TLDR
- Pantera Capital’s report suggests Solana is a prime candidate for ETF approval in 2025, citing strong fundamentals and decentralized ownership
- Major firms including Canary Capital, VanEck, 21Shares, and Bitwise are pursuing Solana ETF applications
- Solana attracted 7,625 new developers in 2024, surpassing Ethereum’s 6,456, and dominates in DEX trading volumes
- Polymarket data shows 84% probability for Solana ETF approval in 2025, higher than other altcoins like Cardano (59%) and Dogecoin (31%)
- Solana’s price currently stands at $192.40, showing a 1.30% decline in 24 hours despite positive ETF outlook
Pantera Capital, a leading cryptocurrency investment firm, has released a new report suggesting Solana could be the next digital asset to receive ETF approval. The February 2025 report, titled “Headwinds Becoming Tailwinds,” outlines several factors that position Solana as a strong candidate for ETF approval in the coming months.
The report, authored by General Partner Cosmo Jiang and Investment Analyst Eric Wallach, emphasizes Solana’s strong fundamentals and decentralized ownership structure as key factors supporting its ETF case. These characteristics align with regulatory requirements for cryptocurrency investment products.
Several major investment firms have already begun preparations for a potential Solana ETF. Canary Capital, VanEck, 21Shares, and Bitwise have submitted applications to regulators, indicating growing institutional interest in bringing Solana to traditional investment markets.
Inside Solana’s Success
Market data from Polymarket shows an 84% probability of Solana ETF approval in 2025, placing it ahead of other alternative cryptocurrencies. For comparison, Ripple (XRP) shows 80% approval odds, while Cardano (ADA) and Dogecoin (DOGE) stand at 59% and 31% respectively.
Developer activity on the Solana network has shown robust growth. In 2024, the platform attracted 7,625 new developers, exceeding Ethereum’s addition of 6,456 developers during the same period. This metric demonstrates increasing technical adoption and platform development.
Trading volumes on Solana-based decentralized exchanges have reached record levels. Raydium, Solana’s primary decentralized exchange, has outperformed Ethereum’s Uniswap by 30% in trading volume over the past two months.
The platform has become a preferred choice for new token launches. Data shows that over 90% of new tokens in Q4 2024 were created on the Solana blockchain, driven partly by the Pump.Fun phenomenon.
Solana has established itself as the leading network for specific cryptocurrency sectors. It has become the primary platform for AI agent tokens and decentralized science (DeSci) cryptocurrencies, showing its versatility across different use cases.
The network’s fee generation has surpassed Ethereum, indicating high user activity and platform utilization. This metric suggests growing adoption among traders and developers.
Despite positive indicators for ETF approval, Solana’s price currently stands at $192.40, showing a 1.30% decline over the past 24 hours according to CoinMarketCap data. This short-term price movement occurs amid broader market fluctuations.
The surge in altcoin ETF interest extends beyond Solana. Multiple cryptocurrencies are under consideration for ETF approval, reflecting expanding institutional appetite for digital asset investment products.
Recent data shows Litecoin maintains an 87% probability for ETF approval, positioning it as another strong contender in the altcoin ETF race.
Applications from major investment firms continue to accumulate. Each firm brings different approaches to custody, pricing, and security measures in their ETF proposals.
Trading volumes across Solana’s ecosystem show sustained growth. The platform processes millions of transactions daily, demonstrating its capacity to handle institutional-grade trading activity.
The latest price data from February 17, 2025, shows Solana trading at $192.40, with market participants closely monitoring its performance as ETF discussions continue.
