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Solana Surges on ‘Overwhelmingly High’ Odds of SOL ETF by End of 2025
- Solana is closing in upon its new all-time high, even as the rest of the crypto market starts to settle.
- SOL has soared nearly 13% in the past 24 hours on the back of ETF optimism and strong on-chain metrics.
- DEXs on Solana recorded nearly 1/3rd of all transaction volume in November, compared to just 17.5% for Ethereum.
The crypto market has cooled off following a frantic week.
However, it seems as though Solana didn’t get the memo, surging another 10% in a matter of hours to come within touching distance of its all-time high.
So is Solana pumping due to the residual market positivity following Trump’s victory, or is there more to the story?
Related: SEC in Hot Water: 18 States Sue as Gensler’s Crypto Freeze Backfires
VanEck Claims SOL ETF Coming by 2025 as SEC Likely to Change Leadership
According to financial manager VanEck, a Solana ETF may be on the cards within the next 12 months.
We all saw how Bitcoin and Ethereum soared upon institutional involvement, with spot ETFs in the US experiencing record-breaking trading flow.
The same scenario could be coming to Solana by the end of 2025, with VanEck’s Head of Digital Asset Research, Matthew Sigel, claiming the “odds are overwhelmingly high”.
We would expect the SEC to approve more crypto products than they have in the past four years…I think the odds are overwhelmingly high that there will be a Solana ETF trading by the end of next year.
VanEck Head of Digital Asset Research, Matthew Sigel The speculation comes due to the likely departure of Gary Gensler as Chair of the Securities and Exchange Commission, which many believe stifled innovation of new crypto products over the last presidential term.
Solana Market Share Smashes Ethereum – Could a Major Upset Be on the Horizon?
Speculation on a possible Solana ETF isn’t the only metric sending SOL soaring.
Decentralised exchange volume on Solana has hit a new high, according to analytics firm DefiLlama.
Market share for DEX volume on Solana reached 33% – meaning over 1/3rd of all decentralised exchange transactions in November were within the Solana ecosystem.
This figure is nearly double that of Ethereum’s (a share of approximately 17.5%).
Related: Franklin Templeton Funds Token Effort, Expands $410M to Ethereum Blockchain
Solana’s challenge for the throne of DeFi King is heating up, with high gas fees and congestion on Ethereum giving its younger contestant the upper hand in on-chain activity.
Whether Solana can actually flip Ethereum to claim the title of Bitcoin’s commander-in-chief may still be a pipe dream. But if a SOL ETF comes to fruition, the outcome could be good news for Solana holders.
Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
