Spot Solana exchange-traded funds (ETFs) in the United States could potentially drive up the price of SOL by a factor of nine, according to crypto market maker GSR Markets. In a June 27 report, GSR described Solana as part of “crypto’s big three” and investigated whether Solana would be the next spot cryptocurrency ETF to receive U.S. regulatory approval. Coincidentally, the report came out the same day VanEck filed to issue a spot Solana ETF, surprising many. GSR, which holds a long position on SOL, estimated an “8.9x” price increase assuming the spot Solana ETFs would attract 14% of the
