Sygnum Crypto Bank Analyst Assesses Solana-ETF Prospects

Spot ETFs for Bitcoin and Ethereum have appeared in the US. Many experts agree that Solana will be the next candidate. There is reason to believe that these industry funds will not be popular among investors. This is the conclusion reached by Katalin Tischhauser, head of investment research at crypto bank Sygnum. The expert noted that the inflow of investment capital into Grayscale Solana Trust (GSOL) is minimal. This indicates a fairly low demand. At the moment, this fund has concentrated less than $70 million under management. For example, Grayscale Bitcoin Trust accounts for about $30 billion. GSOL shares are traded at a very high premium relative to the net asset value. According to the expert, this indicates that there is still demand. But this is not enough to have a tangible impact on the global market. In turn, industry funds for Bitcoin and Ethereum have demonstrated a record inflow of funds. All ETFs control about $63 billion. Bitcoin funds have set a kind of record. Since their launch (in January of this year), they have recorded 3 times more inflow of funds than any ETF that is traded on the market. Against this background, segment participants began to actively discuss which cryptocurrency will be next. Management corporations Franklin Templeton, VanEck and 21Shares have already expressed their interest in launching funds on Solana. As for the BlackRock organization, it does not yet plan to develop an ETF on this cryptocurrency. The company's representatives motivated their decision by the fact that they do not see much interest from the client. Most experts have no doubt that funds on Solana will be launched in the United States. However, this is unlikely to happen this year. Many agree that this could happen approximately in March 2025.