GSR analysts allowed SOL to increase almost 9 times

VanEck’s head of digital asset research, Matthew Siegel, believes that the launch of Solana-ETF largely depends on the outcome of the upcoming US presidential election and whether Gary Gensler remains as SEC chairman.

VanEck previously filed to launch an ETF based on SOL. After this, there was talk in the crypto community that the chance of approval of spot exchange-traded funds based on Solana depended on whether Donald Trump would be the new American president. Previously, he promised to become a “crypto president.”

“There’s a good chance that crypto voters are going to make the difference in this election. And we’re already seeing a change in the regulatory environment at the elected official level,” Siegel said during an interview with Bloomberg.

He also pointed out that if the SEC gives the green light to ETH-ETF trading, this will confirm Ether’s status as a commodity. Applications for these funds have already been approved.

“The same will be true for Solana,” said a VanEck executive.

SOL could grow almost 9 times if the US authorities agree to the launch of Solana-ETF. This scenario was voiced by GSR analysts.

“Solana could grow by 1.4 times in a bearish flow scenario, 3.4 times in a base case scenario, and 8.9 times in a favorable scenario… Moreover, there is reason to believe that the impact could be higher than these estimates, since, in Unlike BTC, SOL is actively used for staking and in decentralized applications, and since the relationship between relative flows and relative size may not be linear,” the experts concluded.

They also said that Trump and a more liberal head of the US Securities and Exchange Commission would encourage the emergence of various cryptocurrency products.

“Change is already happening thanks to Donald Trump’s renewed support for the industry. This forced the Democrats to soften their position on digital assets,” the experts concluded.