Solana ETFs Could Beat Bitcoin Gains, Be Fast-Tracked in Trump Admin: GSR

An investigation report released on Thursday by cryptocurrency market maker GSR highlights potential possibilities for that approval of the place Solana ETF within the U . s . States, particularly with the potential of another Jesse Trump presidency coming.

The report shows that Solana (SOL) might be next lined up for ETF approval following Bitcoin and Ethereum, potentially resulting in significant cost gains for that cryptocurrency.

Drawing parallels with Bitcoin’s cost movement following its very own place ETF approval, the report presents three scenarios for Solana’s potential cost increase: A bear situation estimate of the 1.4x cost jump, basics situation of the 3.4x increase, or perhaps a 8.9x increase “blue sky” scenario that will represent positive inflow estimates.

“Solana is poised for any place ETF assuming additional place digital asset ETFs are permitted within the U.S., and also the effect on cost might be the biggest yet,” the report suggests.

GSR, which holds a lengthy position in Solana, highlights a notable alternation in the political climate surrounding cryptocurrencies in recent several weeks. Crypto has rapidly progressed into a possible wedge trouble in the approaching election between incumbent Democratic president Joe Biden and the presumptive Republican challenger, former president Jesse Trump.

Particularly, the report notes “Jesse Trump’s newly found backing from the crypto industry, which caused Democrats to release their stance against digital assets inside a tight election year.”

This shift has led to bipartisan support for crypto-friendly legislation, such as the overturning from the SEC’s SAB 121 accounting policy and also the passage from the FIT21 digital asset regulatory framework in the home.

GSR’s analysis introduces an “ETF Possibility Score” according to two important aspects: decentralization and potential demand. Solana scored positively both in metrics, ranking second simply to Ethereum on marks within the firm’s view.

“Solana is next, should additional place digital asset ETFs be allowed within the U.S.,” the report ultimately concludes.

Contributing to the momentum, asset management firm VanEck filed an S-1 registration form on Thursday using the U.S. Registration (SEC) for any place Solana ETF. 

This marks a substantial step because it is Solana’s first place ETF registration within the U.S., coming just six days following a similar product launched in Canada. The filing immediately impacted SOL’s cost, that is up nearly 10% at the time.

SOL beats BTC?

Case study also frequently compares Solana’s prospects to Bitcoin’s recent knowledge about place ETF approval within the U . s . States.

Particularly, Bitcoin’s cost saw a couple.3x increase from $27,000 in October 2023—about three several weeks before SEC approval—to roughly $63,000 this month, which GSR mainly related to ETF-related developments.

However, the report shows that Solana’s potential upside might be much more significant, given its greater utility across several applications and employ cases built on Solana.

“Unlike BTC, SOL is positively employed for staking and within decentralized applications so that as [such] the connection between relative flows and relative size might not be straight line,” GSR authored.

Edited by Andrew Hayward