Sygnum Predicts Limited Demand for Solana ETFs Among US Investors

Katalin Tischhauser, head of funding analysis at Sygnum crypto financial institution, believes that Solana exchange-traded funds (ETFs) are unlikely to draw important curiosity from US traders.

Grayscale’s GSOL has belongings beneath administration (AUM) totaling lower than $70 million. In stark distinction, the Grayscale Bitcoin Belief managed almost $30 billion earlier than its conversion to an ETF earlier this yr. Tischhauser defined that this disparity underscores Solana’s decrease recognition in comparison with Bitcoin.

Shares of GSOL are buying and selling at a steep premium to their internet asset worth (NAV), exceeding seven occasions the NAV as of August 15. Whereas this premium suggests some degree of demand, Tischhauser famous that it’s inadequate to considerably impression the market.

This surge in curiosity has fueled hypothesis concerning the subsequent crypto belongings poised for ETF launches. Corporations like Franklin Templeton, VanEck, and 21Shares have expressed curiosity in introducing Solana ETFs. Nonetheless, BlackRock, the most important ETF supervisor by AUM, presently has no plans for a Solana ETF, citing restricted shopper curiosity.

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