Crypto Pundit Tells How Spot Solana ETFs Could Perform Better Than Ether Counterparts
Solana-based exchange-traded funds (ETFs) have not yet launched on the U.S. market, but one crypto expert speculates that the SOL-based products could go live this year and thinks they could outshine Ethereums similar vehicles.
Why SOL ETF Will Outperform ETHs
Speaking at the Blockworks Digital Asset Summit in New York City on Tuesday, Multicoin Capitals Kyle Samani explained why he thinks Solana is better positioned to get more money from traditional investors than Ethereum.
A lot of the reason why the Ether ETF didnt have a super strong reception was a lot of investors looked at ETH and said show me the fees, Samani posited.
As such, investors didnt find any compelling reason to invest at ETHs exorbitant prices.
Investors often analyze blockchains revenue and tokens to determine whether they are undervalued or overvalued. Samani thinks Solanas theoretical P/E ratio is considerably healthier from an investing perspective than Ethers. He estimates that Solana is trading at 30 to 50 times its P/E whereas Ether is trading closer to 1,000 times. This means investors would assume Solana has more upside potential compared to Ether and thus invest accordingly.
CME Traders Show Little Interest In SOL Futures
In other related news, Solana futures debuted on the Chicago Mercantile Exchange (CME) on March. 17 to little fanfare.
The launch of CME futures products has long been considered a harbinger toward eventual approval by the U.S. Securities and Exchange Commission (SEC).
However, the SOL futures generated just $12.3 million in notional daily volume, closing the day with $7.8 million in open interest, which is considerably less than the totals of Bitcoin and Ethereum futures in their launches, according to a Tuesday report from K33 Research.
Solana futures launch comes as at least five asset managers have submitted paperwork with the SEC to list spot Solana ETFs. The regulator has until October 2025 to make a final decision on the applications. Bloomberg analysts tip the odds that SOL ETFs are ultimately greenlighted at approximately 70%.
SOL was recently trading hands at around $131.77, up 7.7% on the day. The token is still down by around 56% from its all-time high set near the end of January, CoinGecko data shows.
Text source: ZyCrypto
