GSR Markets, a leading crypto market maker, has projected that the approval of a spot Solana ETF in the United States could drive the price of Solana (SOL) up by 8.9 times. This optimistic forecast is based on the assumption that the ETF would capture 14% of the trading volume that spot Bitcoin ETFs have experienced. If this scenario unfolds, Solana's price could surge from its current value of $149 to over $1,320, increasing its market cap to $614 billion.
The report also outlines more conservative scenarios, with the "bear" and "baseline" cases predicting 1.4x and 3.4x price increases, respectively. These estimates could be further enhanced if staking rewards are included in the ETF structure.
GSR's analysis comes on the heels of VanEck's unexpected application to launch a spot Solana ETF, adding to the growing interest in Solana among investors and financial institutions. Despite the optimism, regulatory challenges remain, particularly with the SEC's current stance labeling Solana as a security.
As the market anticipates potential regulatory shifts, the approval of such ETFs could significantly impact Solana's market dynamics and investor interest.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
