Here Is What to Expect from Solana Spot ETF, According to JPMorgan
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JPMorgan analysts say approval of spot Solana ETFs in the U.S. now looks highly likely, but the bank expects far more modest inflows than those seen with Bitcoin or Ethereum.
In a new report led by Nikolaos Panigirtzoglou, JPMorgan highlighted that the SEC’s updated listing standards, which streamline the approval process for crypto ETFs, have made Solana’s approval “almost inevitable.”
The final decision deadline is set for October 10, and the analysts believe the presence of a regulated Solana futures contract at CME further boosts the chances.
The report points to the REX Osprey Solana ETF, already approved under the Investment Company Act of 1940, as a key precedent. Meanwhile, investor sentiment is shifting, the Grayscale Solana Trust (GSOL) premium has fallen from over 750% last year to near zero, mirroring the same pattern that preceded spot ETF launches for Bitcoin and Ethereum.
However, JPMorgan forecasts that Solana ETFs could attract only around $1.5 billion in net inflows during their first year, roughly one-seventh of Ethereum’s ETF performance in its debut year. The bank attributes this to weaker institutional perception of Solana, declining network activity, and rising dominance of meme coin trading on its blockchain.
JPMorgan also noted potential investor fatigue from the surge in new ETF products and growing competition from crypto index funds and tokenized yield instruments. Despite these headwinds, the firm sees Solana’s ETF approval as another milestone in the ongoing integration of blockchain assets into mainstream financial markets.
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