Ethereum and Solana Overshadowed Bitcoin: They Can Earn More!

Cryptocurrency investors are turning their eyes to Ethereum (ETH) and Solana (SOL) in line with the recent developments.

Solana price rose after investment firm VanEck filed with the SEC to establish a spot SOL ETF. Ethereum has also outperformed Bitcoin throughout this year, with expectations for a spot Ethereum ETF.

According to Bloomberg data, Ethereum and Solana duo performed better than Bitcoin in the last month.

Ethereum and Solana may receive billions of dollars in investments

According to Reuters, spot Ethereum ETFs may enter the market on July 4. For this, the SEC must approve the issuers' S-1 filings.

Galaxy Digital and Fundstrat analysts think that an average of $5 billion could enter Ethereum funds within a few months.

“The overall sentiment around Ethereum ETFs has remained extremely bearish so far,” said Sean Farrell, Head of Digital Asset Strategy at Fundstrat. Farrell thinks these investment instruments will be especially attractive to hedge funds looking to do basic trading.

Meanwhile, JPMorgan analysts made a “modest” prediction and said that between 1 and 3 billion dollars could enter Ethereum funds by the end of the year.

Similarly, in the research of the market making company GSR, it was stated that Solana could gain a better chart than Bitcoin by gaining 8.9 times in value.