Anchorage Digital plans to integrate Jupiter into the Porto dashboard, an institutional wallet. The initiative aims to expand the crypto bank’s services for clients from the traditional financial sector who work with DeFi.
The integration of Jupiter into Porto should simplify cryptocurrency conversion and other DeFi processes directly in the wallet. Anchorage Digital stated that the innovation will reduce dependence on third-party applications and increase Solana liquidity by reducing slippage — the difference between the expected and actual price.
Anchorage aims to ensure security and compliance in the Solana ecosystem
The company believes that institutional players cannot properly manage decentralized applications and the risks of third-party services. It is also noted that Jupiter users face difficulties when working with the platform through an institutional interface.
CEO and co-founder of Anchorage Digital Nathan McCauley emphasized that full institutional adoption of DeFi requires a basic infrastructure that meets the highest standards of security and compliance. He added that integration with Jupiter is an important step in creating such a base on Solana.
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In June, Anchorage Digital also integrated Uniswap with Porto as part of efforts to provide institutions with direct access to DeFi. According to McCauley, the goal of the integration is to enable DeFi to operate at the speed of the crypto market without compromising security. In addition, Porto has already connected Maple Finance, Sui Foundation, and the decentralized exchange dYdX.
Institutional investor interest in Solana has grown amid a more favorable regulatory and political environment for cryptocurrencies in the US. Last week, CoinShares reported that inflows into Solana-based products reached nearly $300 million, surpassing ETP products for other major crypto assets, including Ethereum.
According to the crypto-focused investment firm, since the beginning of the year, inflows into Solana-ETP have totaled nearly $1.9 billion — more than any digital asset except bitcoin and ether.
Solana-ETF awaits SEC launch approval
Head of Research at CoinShares James Butterfill noted that the growth in inflows into Solana funds is partly due to the expectation of imminent ETF launches in the US. President of NocaDius Wealth Management Nate Geraci hinted on Sunday that the next two weeks could be decisive for US spot crypto ETFs, as the SEC must make decisions on several applications.
According to Bloomberg ETF analyst Eric Balchunas, the chances of Solana-ETF approval by the SEC are 100%. He added that the fund could launch at any moment.
‘Unified listing standards make the 19b-4 rules and their “counter” meaningless. Only S-1 form approval from the corporate finance division remains. And they just filed the fourth amendment for Solana,’ — Eric Balchunas, senior ETF analyst at Bloomberg.
Head of Institutional Development at Solana Foundation Nick Ducoff stated that approval of the Solana-ETF will be a turning point for the market. According to him, the unexpected SEC decision shortens the time issuers need to complete procedures, giving projects like Solana a faster path to launch.
Ducoff also hinted that ETFs for Solana and XRP could launch at about the same time. According to him, new stock market highs and lower Fed rates support the current bull cycle for risk assets, including cryptocurrencies. He also noted that Solana has historically moved in line with risk asset markets, making the moment especially favorable.
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At the time of publication, Solana is trading around $205, down 2.13% over the past 24 hours. Over the week, the price of SOL also fell by almost 7%.
Earlier this month, Bitwise CIO Matt Hougan stated that approval of the Solana-ETF points to a strong year-end for the asset. Chief analyst at HashKey Group Jeffrey Ding believes that the launch of the Solana-ETF could trigger speculative buying even before approval, followed by a correction — similar to what happened with bitcoin and ether ETFs.
