With exchange-traded funds becoming a major focal point of the cryptocurrency sector in 2024, all eyes are on what assets could follow Bitcoin and Ethereum to be the next up. There may be one clear-cut answer in Solana, as a SOL ETF is more likely than not in 2025, according to VanEck.
The asset manager has not been shy about its belief in the ETF prospects of the cryptocurrency. The success of both approved crypto-based ETFs has been something of a mixed bag. However, there is no denying that Bitcoin’s offering has been one of the most impressive debuts in history.
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Solana ETF May Be On Its Way: VanEck Speaks on Odds
2024 proved to be one of the most important years in the history of cryptocurrencies. The asset class took much of the spotlight and became a clear focal point for investment. That was no clearer seen than in the arrival of Spot Bitcoin ETFs in January. Indeed, BlackRock’s iShares Bitcoin Trust (IBIT) has already been called the ‘Greatest ETF launch in history.”
Yet, Ethereum ETFs arrived several months later and proved to not feature the same kind of hype or success. However, that has not deterred the market from anticipating what asset could be the focus of an investment vehicle next. Now, that may have been revealed, as a Solana ETF could be on its way in 2025, according to VanEck.
Also Read: Solana: VanEck Says SOL Can Reach 50% of Ethereum’s Market Cap
The asset manager’s Head of Digital Asset Research, Matthew Sigel, has suggested that a Solana ETF is more likely than not going to arrive this year. In a post to X (formerly Twitter), Sigel responded with a post regarding Polymarket odds of a SOL ETF standing at 77%.
Sigel has previously said that a Solana investment product has a “high probability” of being approved in 2025. That green light would be massive for SOL. Optimism has already pushed the toke up 16% over the last seven days, according to CoinMarketCap.
Moreover, that price is slated to be just the start of its price journey. Crypto price prediction platform CoinCodex projects Solana to reach heights of $594 over the next eight months. That prediction coming to fruition would signal a 174% increase from its current position.