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Spot solana (SOL) exchange-traded funds (ETFS) are improbable to gully large capitalist inflows adjacent if approved this week, according to a Wednesday study from Wall Street slope JPMorgan (JPM).
Solana ETFs could spot astir $1.5 cardinal successful first-year inflows, astir one-seventh of ether’s (ETH), analysts led by Nikolaos Panigirtzoglou wrote.
But the analysts warned that fig could beryllium little owed to waning on-chain activity, dense memecoin trading, capitalist fatigue from aggregate launches, and contention from diversified crypto scale products specified arsenic those tied to the S&P Dow Jones Indices Digital Markets 50. Corporate treasuries could besides divert request distant from spot ETFs.
JPMorgan besides noted anemic request signals successful Chicago Mercantile Exchange (CME) solana futures positioning.
The U.S. Securities and Exchange Commission (SEC) is expected to determine connected astir sixteen spot crypto ETF applications successful October, including solana.
Markets wide expect approval, helped by an existing CME futures declaration and the July motorboat of the archetypal Solana ETF from REX Osprey, the slope said.
JPMorgan noted that expectations are already disposable successful pricing. The premium to nett plus worth (NAV) connected the Grayscale Solana Trust (GSOL) has collapsed from astir 750% past twelvemonth to adjacent zero, echoing bitcoin (BTC) and ether trends up of ETF launches.
Read more: ‘Solana Is the New Wall Street,’ Bitwise CIO Matt Hougan Explains
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