Exploring Potential Opportunities for the Approval of Spot Solana ETF in the US
According to a recent research report by cryptocurrency market maker GSR, there are interesting insights into the potential approval of a spot Solana ETF in the United States. The report suggests that Solana (SOL) could be in line for ETF approval, which could lead to significant price gains for the cryptocurrency.
Solana’s Price Increase Scenarios
The report outlines three scenarios for Solana’s price increase following ETF approval:
- A bear case estimate of a 1.4x price jump
- A base case of a 3.4x increase
- An 8.9x increase “blue sky” scenario
Political Climate Impact on Crypto
The report also highlights the impact of the changing political climate on cryptocurrencies in recent months. It notes the shift in support for crypto-friendly legislation and the potential influence of the upcoming election on digital assets.
ETF Possibility Score
GSR introduces an “ETF Possibility Score” based on decentralization and potential demand. Solana scores positively in both metrics, positioning it as a strong candidate for ETF approval.
VanEck’s Spot Solana ETF Filing
Asset management firm VanEck filed an S-1 registration form for a spot Solana ETF with the SEC, marking a significant development for Solana in the US market. This filing has already had a positive impact on SOL’s price.
SOL’s Potential Compared to BTC
The report draws parallels between Solana’s potential and Bitcoin’s recent experience with ETF approval. It suggests that Solana’s utility and use cases may offer even greater upside potential than Bitcoin.
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