Anchorage Digital plans to integrate Solana Swap and Jupiter into its Porto wallet

Source Cryptopolitan

Anchorage Digital plans to add Solana swap and liquidity aggregator Jupiter within Porto’s dashboard, its institutional self-custody wallet. The initiative aims to expand the crypto bank’s services for traditional finance clients engaging with DeFi.

The integration of Jupiter to Porto seeks to simplify crypto conversions and other DeFi processes within the self-custody wallet. Anchorage Digital stated that the integration will reduce reliance on external applications and enhance Solana liquidity by mitigating trade slippage, which is the discrepancy between the expected and executed prices.

Anchorage seeks to maintain security and compliance within Solana

The digital asset platform provider believes that institutions aren’t able to manage decentralized applications and third-party risks properly. Anchorage also noted that Jupiter users encounter difficulties accessing the platform through an institutional interface.

Nathan McCauley, CEO and Co-founder at Anchorage Digital, argued that true institutional adoption of DeFi requires foundational infrastructure that meets the highest standards of security and compliance. He also acknowledged that the integration with Jupiter is a critical step in building that foundation on Solana.

Anchorage Digital also integrated Uniswap with Porto in June as part of its efforts to provide institutions with direct access to DeFi swaps and liquidity. McCauley stated that the integration aims to enable DeFi to move at crypto-native speed without compromising security. Porto has also integrated with Maple Finance, the Sui Foundation, and decentralized exchange dYdX. 

Solana has seen increased interest among institutional investors in the wake of a friendlier regulatory and political environment for crypto in the U.S. CoinShares reported last week that investment into Solana exchange-traded products generated nearly $300 million, surpassing products tracking major altcoins, including Bitcoin and Ethereum.

The crypto-focused investment firm also reported that Solana ETPs have accounted for almost $1.9 billion in inflows year-to-date, more than other digital assets except for Bitcoin and Ethereum.

Solana ETFs await launch approval from the SEC

CoinShares’s head of research, James Butterfill, said Solana funds have seen increased inflows partly in anticipation of forthcoming exchange-traded fund (ETF) launches in the U.S. NocaDius Wealth Management president Nate Geraci hinted on Sunday that the upcoming two weeks could be enormous for U.S. spot crypto ETFs, as the SEC is expected to make decisions on multiple ETF filings.

Bloomberg ETF analyst Eric Balchunas said the odds of a Solana ETF being approved by the SEC are at 100%. He also claims that a Solana Fund could come at any time.

“Generic listing standards make the 19b-4s and their ‘clock’ meaningless. That just leaves the S-1s waiting for formal greenlight from Corp Finance. And they just submitted amendment #4 for Solana.”

Eric Balchunas, Senior ETF Analyst at Bloomberg.

Nick Ducoff, Head of Institutional Growth at the Solana Foundation, argued that the approval of Solana ETFs is transformative for the market. He believes that the SEC’s surprise announcement minimizes the time required for issuers to navigate the filing process, giving projects like Solana a faster track to launch.

Ducoff also hinted that Solana and XRP ETFs are expected to launch around the same time. He argued that the stock market hitting new highs and the Fed lowering interest rates favor the current bull market for risk assets, such as crypto. He also noted that Solana has historically moved in line with risk-on markets, making the timing promising.

Solana is trading at around $205 at the time of publication, down 2.13% in the last 24 hours. SOL has also dropped by nearly 7% in the last seven days. 

Matt Hougan, chief investment officer at ETF issuer Bitwise, said earlier this month that the approval of Solana ETFs points towards an epic end-of-year for SOL. Jeffrey Ding, chief analyst at HashKey Group, argued that a Solana ETF could trigger speculative buying ahead of its approval, followed by a potential correction once it is launched, similar to what happened with Bitcoin and Ethereum ETFs.

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