Solana Emerges as Favorite for Next Crypto ETF, Surpassing Cardano and Ripple
In the world of cryptocurrencies, there’s a lot of buzz about the next big exchange-traded fund (ETF). According to recent analysis from market maker GSR, Solana (SOL) has the best chance of approval, even ahead of established names like Cardano and Ripple.
What makes Solana so special?
GSR points to two key factors that determine the likelihood of ETF approval:
1. Decentralization: Solana is working hard to improve its network with the new Firedancer client. This makes the system less dependent on one central party.
2. Market Demand: There is a lot of interest in Solana, as evidenced by good market performance and high trading volumes.
Source: https://www.gsr.io/reports/is-solana-eft-next/
Solana scores high
GSR has developed a special score to calculate the ETF chances. Solana is in second place, only surpassed by Ethereum. Surprisingly, Cardano, Ripple and other well-known cryptocurrencies score negatively.
Possible price effects
If Solana does indeed get an ETF, this could have a major impact on the price. GSR outlines several options:
– Conservative estimate: 1.4 times current price
– Average expectation: 3.4 times the current price
– Optimistic scenario: 8.9 times the current price
Concrete steps
The opportunities for Solana seem real. Asset manager VanEck recently submitted an application for a Solana spot ETF. This shows that major financial parties are also interested in Solana.
The potential approval of a Solana ETF could have major implications for the crypto market. It would give Solana a significant edge over competitors and potentially lead to more investment in the project.
For investors, it is interesting to keep an eye on the developments around Solana. The combination of technological progress and growing market interest makes SOL a project that will receive a lot of attention in the crypto world in the coming period.
