Bank

2024

Solana

Grayscale Bitcoin Trust

BlackRock

<p>While Bitcoin ETFs are experiencing unprecedented success, the future of Solana ETFs seems much more uncertain. Crypto industry experts are indeed questioning the viability and appeal of these new investment vehicles based on SOL.</p>
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     <p lang="en" dir="ltr">In this week’s Sygnum research livestream, Katalin Tischhauser, Sygnum’s Head of Investment Research, gave her take on the Ethereum ETFs and what’s next:<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> Slow start<br>"On the first day, inflows were strong as seed money came in but net flows have turned negative since then. The… <a href="https://t.co/uq4P1nCFZE" rel="noopener noreferrer nofollow">pic.twitter.com/uq4P1nCFZE</a></p>— Sygnum Bank (@sygnumofficial) <a href="https://twitter.com/sygnumofficial/status/1823981347871854654?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 15, 2024</a>
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  An expert from Sygnum Bank shares their opinion on crypto ETFs
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<h2 id="h-weak-demand-for-solana-etfs-according-to-experts">Weak Demand for Solana ETFs According to Experts</h2>
<p>Katalin Tischhauser, head of research at Sygnum, highlights the lack of interest from American investors in Solana ETFs. She points to the disappointing performance of the Grayscale Solana Trust (GSOL), whose <strong>assets under management are capped at $70 million</strong>. This figure seems paltry compared to the $30 billion managed by <a href="https://www.cointribune.com/en/bitcoin-etf-grayscale-records-its-first-inflows-of-63-million/" target="_blank" rel="noopener noreferrer nofollow">the Grayscale Bitcoin Trust</a> before its conversion to an ETF.</p>
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<p>This disparity reflects Solana’s limited notoriety compared to the giant Bitcoin. Despite <strong>an unusually high premium of more than 700%</strong> on the net asset value of GSOL, Tischhauser <a href="https://cointelegraph.com/news/solana-etfs-significant-demand-sygnum-research-head?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound" target="_blank" rel="noopener noreferrer nofollow">believes</a> it will not have a significant impact on the crypto market.</p>
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<h2 id="h-a-striking-contrast-with-the-success-of-bitcoin-and-ethereum-etfs">A Striking Contrast with the Success of Bitcoin and Ethereum ETFs</h2>
<p><a href="https://www.cointribune.com/en/crypto-etf-bitcoin-rakes-in-124-1m-ethereum-tumbles/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin and Ethereum</a> ETFs recorded record inflows in 2024, totaling <strong>nearly $63 billion in assets under management</strong>. Dave LaValle, global head of ETFs at Grayscale, highlights that BTC ETFs saw more than three times the largest annual inflow of any exchange-traded fund in history.</p>
<p>This massive adoption has triggered a wave of speculation about the next crypto assets to be launched as ETFs. However, the prospects for Solana seem less promising. <a href="https://www.cointribune.com/en/crypto-blackrocks-ethereum-etf-is-about-to-reach-1-billion-in-inflows/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a> has already expressed <strong>its lack of interest in a SOL ETF</strong>. The reason given: a lack of interest from its clients.</p>
<p>While some smaller ETF issuers may find a financial interest in launching Solana products, the impact on the crypto market is likely to be limited. The <a href="https://www.cointribune.com/en/bitcoin-etf-institutional-investors-are-betting-big-in-q2/" target="_blank" rel="noopener noreferrer nofollow">future</a> of these digital assets therefore remains uncertain in the face of the overwhelming dominance of Bitcoin and Ethereum.</p>

Crypto: Solana ETFs Struggle to Convince!

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