Solana (SOL) Could See Major Price Upside with Trump Presidency and Potential ETF Launch, Says Market-Making Firm
According to market-making firm GSR, if Donald Trump is re-elected as president, there may be a chance for Solana (SOL) to have its own ETF in the U.S. This could be due to potential changes in digital asset regulations that allow for the launch of spot digital asset ETFs. Solana is one of the few crypto assets with strong market demand and a high degree of decentralization, making it a potential candidate for a listing. If SOL sees just 5% of the inflows that Bitcoin did, its price could more than triple, and "blue sky" inflow rates of 14% could see Solana's price shoot up nearly ninefold, per the GSR note. However, the market hasn't signaled an embrace of this possibility, as the price of Grayscale Solana Trust (GSOL) remains at a staggering premium to net asset value.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Web3 Watch: McDonald’s strikes up branding collaboration with Doodles
Plus, esports organization Team Liquid launches fan engagement platform on Sui
XRP rises over 20%, spurred by favorable regulatory environment, ETF filing
The price of Ripple’s XRP token has rocketed up over 20% in the past 24 hours, likely buoyed by hopes of a favorable regulatory environment and the resolution of its long-running legal battle with the SEC.21Shares recently filed for an XRP ETF, hoping to bring a fund to market in the likeness of its spot Bitcoin and Ethereum ETFs.
Miner Greenidge Generation Wins Court Case and Will Continue Operations
Dogecoin Investors Drop Class Action Lawsuit Against Elon Musk
Trending news
MoreCrypto prices
More
