{"id":23869,"date":"2024-06-28T17:00:54","date_gmt":"2024-06-28T14:00:54","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23869"},"modified":"2024-06-28T10:44:26","modified_gmt":"2024-06-28T07:44:26","slug":"spot-solana-etfs-could-skyrocket-sols-price-ninefold-says-gsr-markets","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/spot-solana-etfs-could-skyrocket-sols-price-ninefold-says-gsr-markets\/","title":{"rendered":"Spot Solana ETFs Could Skyrocket SOL&#8217;s Price Ninefold, Says GSR Markets"},"content":{"rendered":"<p><strong>Spot Solana ETFs<\/strong> could potentially surge <strong>SOL<\/strong>&#8216;s price by a factor of nine, according to<strong> GSR Markets<\/strong>. Despite optimism, regulatory hurdles remain for U.S. approval.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/spot-solana-etfs-could-skyrocket-sols-price-ninefold-says-gsr-markets\/#Potential_Impact_of_Spot_Solana_ETFs\" title=\"Potential Impact of Spot Solana ETFs\">Potential Impact of Spot Solana ETFs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/spot-solana-etfs-could-skyrocket-sols-price-ninefold-says-gsr-markets\/#Challenges_and_Regulatory_Hurdles\" title=\"Challenges and Regulatory Hurdles\">Challenges and Regulatory Hurdles<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/spot-solana-etfs-could-skyrocket-sols-price-ninefold-says-gsr-markets\/#Current_Solana_ETF_Situation\" title=\"Current Solana ETF Situation\">Current Solana ETF Situation<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Potential_Impact_of_Spot_Solana_ETFs\"><\/span>Potential Impact of Spot Solana ETFs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>GSR Markets<\/strong> included <strong>Solana<\/strong> as one of &#8220;crypto&#8217;s big three&#8221; in a June 27 study and investigated the likelihood of Solana becoming the second spot cryptocurrency ETF to get U.S. regulatory clearance. Surprising many in the market, VanEck filed to offer a spot Solana ETF on the same day.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/what-is-crypto-com-cro-coin\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: What is Crypto.com (CRO) Coin?<br \/>\n<\/span><\/em><\/a><\/p>\n<p>Based on their &#8220;8.9x&#8221; estimate, <strong>GSR<\/strong>, which has a long position on SOL, believes that, in relation to their market capitalization, spot Solana ETFs would collect 14% of the flows that spot Bitcoin ETFs have witnessed their debut in January. Under GSR&#8217;s &#8220;blue sky scenario,&#8221; Solana&#8217;s present price of $149 might jump to over $1,320, hence raising its market valuation to $614 billion at the current supply.<\/p>\n<p>Based on GSR&#8217;s &#8220;bear&#8221; and &#8220;baseline&#8221; models, spot <strong>Solana ETFs<\/strong> might get 2% and 5% of Bitcoin&#8217;s flows respectively, which would produce 1.4x and 3.4x price rises for Solana respectively. Although staking was not permitted in the authorized spot Ether ETFs, the company stated that these estimations might be significantly higher if the ETFs incorporate revenue from staking incentives.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Challenges_and_Regulatory_Hurdles\"><\/span>Challenges and Regulatory Hurdles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Though GSR has a positive view, <strong>Bloomberg ETF expert Eric Balchunas<\/strong> and others feel that a change in the U.S. President and the Chair of the Securities Exchange Commission (SEC) would be required for a spot Solana ETF to be really taken under consideration. Complicating the approval process compared to currently authorized spot Bitcoin and Ether ETFs, the SEC and Gary Gensler, its Chair, branded the SOL token as a security in litigation against Binance and Coinbase.<\/p>\n<p>Following cryptocurrency asset management 3iQ&#8217;s application for a spot Solana ETF in Canada, VanEck marks a North American first. Franklin Templeton, the $1.5 trillion asset manager, has also praised the <strong>Solana ecosystem<\/strong>; the company has not stated intentions to apply for a Solana ETF.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Solana_ETF_Situation\"><\/span>Current Solana ETF Situation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With around $1 billion worth of Solana exchange-traded products available globally right now, the Solana ecosystem shows great demand and room for expansion.<\/p>\n<p><em><a href=\"https:\/\/t.me\/coinengineernews\"><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!<\/span><\/a> <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spot Solana ETFs could potentially surge SOL&#8216;s price by a factor of nine, according to GSR Markets. Despite optimism, regulatory hurdles remain for U.S. approval. Potential Impact of Spot Solana ETFs GSR Markets included Solana as one of &#8220;crypto&#8217;s big three&#8221; in a June 27 study and investigated the likelihood of Solana becoming the second<\/p>\n","protected":false},"author":6,"featured_media":15424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[7071,319,7070],"class_list":["post-23869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-news","tag-gsr-markets","tag-solana","tag-spot-solana-etfs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spot Solana ETFs Could Skyrocket SOL&#039;s Price Ninefold, Says GSR Markets - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/spot-solana-etfs-could-skyrocket-sols-price-ninefold-says-gsr-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spot Solana ETFs Could Skyrocket SOL&#039;s Price Ninefold, Says GSR Markets - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Spot Solana ETFs could potentially surge SOL&#8216;s price by a factor of nine, according to GSR Markets. 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