Yesterday, US asset manager VanEck filed to launch a Solana (SOL) spot Exchange-Traded Fund (ETF). If approved, the fund would be a major step in the global adoption of the popular altcoin, likely giving its price a strong boost.
According to crypto market maker GSR, the Solana price could potentially increase ninefold if a spot ETF were to enter the American stock exchanges.
‘SOL price x9 due to ETF’
GSR, a leading crypto liquidity provider, elaborated in a report yesterday on the possible arrival of a Solana spot ETF in the United States and the potential effect on the underlying price.
Coincidentally, the report was released on the same day that VanEck filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch a Solana ETF.
With the approval of Ethereum ETFs, the question arose as to which altcoins will be next for US ETFs, with Solana often mentioned first by analysts and industry leaders.
GSR, which has a long position in SOL, estimates an 8.9x price upside in the most bullish scenario based on the assumption that the Solana ETFs will receive 14% of the inflows that the Bitcoin funds launched in January saw, taking into account their relative market caps.
Under GSR’s ‘bear’ and ‘baseline’ scenarios, the Solana ETFs would receive 2% and 5% of bitcoin inflows respectively, which the market maker believes would lead to price increases of 1.4x and 3.4x for SOL respectively.
The company also indicated that inflows could be higher if potential Solana ETFs included staking. However, the SEC put a stop to this for Ethereum ETFs because staked ether could be considered a security. If Solana ETFs were approved, staking would most likely be absent here as well.
VanEck Solana Trust
Back to VanEck’s Solana ETF application. With its VanEck Solana Trust, the asset giant wants to add a third crypto ETF to its arsenal. VanEck has had its own bitcoin spot ETF since January, and it will soon be allowed to launch an ethereum spot ETF on the market.
The VanEck Solana Trust would offer investors the opportunity to invest in SOL through traditional investment accounts, without managing the altcoin themselves. It provides a regulated and accessible way to gain exposure to the altcoin, which could boost institutional adoption in particular.
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Source: https://newsbit.nl/solana-etf-kan-sol-koers-met-800-laten-stijgen/
