Spot Solana ETF could cause a surge in SOL price by 9x

GSR Markets detailed that Solana is among the most promising projects in the crypto space and ranks among crypto’s top three ecosystems. The report was coincidentally released on the same day a global investment manager, VanEck, issued an application for the SOL ETF. GSR Markets cited crypto ETFs as the main drivers of price fluctuations in the current cycle. The market maker highlighted that Solana ETFs could be next after Bitcoin and Ethereum. GSR publicly stated its bullish sentiments towards SOL and estimated a 9X surge in the digital asset price. The market marker predicted that Solana will see an inflow of 14% of that experienced by Bitcoin ETFs since the beginning of the year. If the GSR prediction falls true, the current SOL price of $149 will surge to cross the $1320 mark. With the new price, SOL will have a market cap of $614 billion, with the current circulating supply in line with the firm’s “blue sky” scenario.

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