According to a report by GSR Markets, the US spot ETF for Solana could potentially cause altcoin prices to surge up to nine times. In a report dated June 27, GSR described Solana as part of the “big crypto trio” and explored the possibility of SOL becoming the next spot crypto ETF to receive regulatory approval in the US. Interestingly, that report coincided with the surprising news from VanEck about filing for a spot Solana ETF on the same day. GSR, holding a long position in SOL, speculated that a spot Solana ETF would attract 14% of the capital inflow that spot Bitcoin ETFs have experienced since their inception in January. Read more: 
A director at Bitwise stated that an Ethereum ETF would raise $1.5 billion. In GSR’s “blue sky scenario,” the current price of Solana at $145 could rise to over $1,320, with Solana’s market capitalization reaching $614 billion. In contrast, GSR’s “bearish” and “base” scenarios predict that spot Solana ETFs will attract 2% and 5% of Bitcoin’s inflow, respectively, leading to a 1.4x and 3.4x increase in the price of SOL. The firm noted that these estimates could be even higher if spot Solana ETFs included revenues from staking rewards, although staking is not allowed in the approved spot Ethereum ETFs. GSR stated: Solana is ready for a spot ETF, should additional spot ETFs for digital assets be permitted in the US, and the impact on the price could be the greatest yet. Read more: 
EOS cryptocurrency updates its token economics – what are the new features? Despite GSR’s optimistic forecasts, Bloomberg ETF analyst Eric Balchunas and others believe that significant political changes, such as a new US president and another chairman of the Securities and Exchange Commission (SEC), would be needed to seriously consider the creation of a Solana ETF. The SEC and its chairman, Gary Gensler, have classified SOL as a security in legal cases against Binance and Coinbase, complicating the path to approval compared to already approved spot ETFs for Bitcoin and Ethereum. VanEck’s statement followed a similar submission by crypto asset manager 3iQ for a spot Solana ETF in Canada, which was the first of its kind. 
Spot Solana ETF Could Boost SOL Price Up to 9Fold 