Bitwise Makes Bullish Prediction for Solana ETFs, Expected to Receive Approval in the Near Term

The future of Solana-based ETFs, and the broader Solana ecosystem by extension, looks promising. Key founders have recently outlined expectations for the network and the potential performance of its highly anticipated Solana-based exchange-traded fund. 

While being interviewed by the host of Lightspeed, a cryptocurrency-based podcast, Anatoly Yakovenko, the co-founder of Solana, and Kyle Samani, co-founder and partner at Multicoin crypto investment firm, made big revelations about Solana’s future. 

According to Kyle Samani, the key figures at global investment firms VanEck and Bitwise are “really excited, and [they] think it’s [Solana ETF] going to exceed expectations.” 

Samani named Bitwise and VanEck as the institutional investors likely to be the front runners for the Solana ETF upon approval. The asset management giants oversaw a staggering $10 billion and $101.9 billion in assets under management, respectively, in the previous year. 

Noting that the Ethereum ETF’s underwhelming performance from an inflow standpoint served as a learning opportunity for Bitwise and VanEck, Samani cited fee charges on the Ethereum network as a key factor that influenced the lukewarm reception to the Ethereum-based ETF. 

The market proponent further stated that JP Morgan and Standard Chartered investment analysts seem to agree that the user experience on Solana unseats that of Ethereum. “I suspect that a smaller market base to start from, better valuation multiple, and objectively better product experience will lead to a lot more success [for Solana ETFs].” He asserted. 

Anticipation for a Solana-based ETF soared following the launch of multiple Bitcoin and Ethereum-based ETFs in 2024. Solana (SOL) surged by 6% within 24 hours last week to trade at $130. 

The bullish uptrend coincided with the launch of Volatility Shares LLC’s Solana futures exchange-traded funds (ETFs), which went live on March 20, 2025. On March 18, 2025, CME launched its Solans Futures product, which debuted with a trading volume of $12 million.