According to a report released by cryptocurrency market maker GSR Markets, GSR holds a long position in SOL. The hypothesis put forward in the report is:
In a bull case scenario, the spot Solana ETF would absorb 14% of all fund flows to the spot Bitcoin ETF since its launch in January, the price of SOL would rise from its current $149 to over $1,320, and Solana’s market cap would increase to $614 billion.
In the bear and base cases, the spot Solana ETF would capture 2% and 5% of the flows that attract Bitcoin ETFs, which would trigger a 1.4x and 3.4x increase in Solana’s price, respectively.
The firm said these valuations could be higher if the spot Solana ETF included staking reward income.
