Solana (SOL) could be the subsequent blockchain to obtain its personal spot ETF within the U.S., Pantera Capital says in its February 2025 Blockchain Letter subject. Elevated developer and financial exercise, fast ecosystem progress and SOL value's strong efficiency contributed to this optimism.
Solana ETF: Right here's why prime VC agency Pantera Capital is optimistic
Solana (SOL), the fifth largest altcoin, is among the many most probably subsequent cryptocurrencies to have a spot exchange-traded fund (ETF) green-lit within the U.S. Such conclusion was made by Cosmo Jiang, Basic Accomplice, and Eric Wallach, Funding Analyst of main crypto VC Pantera Capital of their Headwinds Turning into Tailwinds report of February 2025.
"We additionally consider Solana is among the many most probably subsequent digital belongings to have an ETF. It has robust fundamentals that undergird a optimistic funding case, is a extensively traded digital asset on giant respected exchanges that may be monitored, and its possession is extensively…
— Pantera Capital (@PanteraCapital) February 14, 2025
In accordance with them, Solana (SOL) advanced right into a dominant good contracts platform because it turned the chief in attracting new builders, processed the most important quantity of DEX buying and selling and began surpassing Ethereum (ETH) in generated charges.
Within the DEXes vertical, Solana's flagship product Raydium (RAY) surpassed Uniswap (UNI), a dominant EVM DEX, by 30% in buying and selling quantity for 2 months in a row.
Pump.enjoyable mania contributed to Solana's (SOL) management in new tokens creation: In This fall, 2024, over 90% of recent tokens appeared on this blockchain. Solana (SOL) welcomed the most important variety of AI agent tokens and DeSci cryptocurrencies.
By way of developer adoption, Solana (SOL) steals the highlight: It onboarded 7,625 new builders in 2024 in comparison with Ethereum's 6,456 devs.
XRP, DOGE, ADA, LTC: Altcoin ETF race accelerates
Additionally, Solana (SOL) generated 37% extra income (transaction charges + MEV suggestions) in comparison with its oldest rival Ethereum (ETH). In 2024, Solana (SOL) raised a whopping $5 billion in income.
Pantera Capital remembers that the U.S. SEC has to announce its last verdict on 4 potential Solana ETFs — by Bitwise, Canary, Grayscale and VanEck — by March 15, 2025.
As coated by U.At this time beforehand, increasingly consultants foresee that new altcoin ETFs will likely be accredited in 2025.
XRP, Litecoin (LTC), Cardano (ADA) and Dogecoin (DOGE) are recurrently named among the many prime candidates for the subsequent itemizing.
