For Solana ETFs, the Easy Money Has Already Been Made: JPMorgan
Investors hoping for a massive Solana ETF-fueled price surge may be too late, according to JPMorgan. The bank anticipates the funds will be approved but sees only around $1.5 billion in inflows during their first year, a modest figure compared to other crypto ETFs.
A key signal, the analysts say, is the Grayscale Solana Trust (GSOL). Its premium to net asset value has plummeted from over 750% last year to just above zero today. “The narrowing mirrors the pattern seen in Grayscale’s Bitcoin and Ethereum trusts before their conversions into spot ETFs,” the report stated, suggesting the approval is already reflected in the market.
The SEC’s upcoming decision on October 10 is highly anticipated, with the process simplified by new generic listing standards. JPMorgan reinforces the high likelihood of approval by pointing to the existing CME Solana futures and the previously launched REX Osprey trust.
