Solana ETF: Pantera Capital Predicts SEC Approval

Solana ETF poised for SEC approval, according to top VC firm Pantera Capital. The crypto investment firm has expressed optimism about the upcoming approval of a Solana Exchange Traded Fund (ETF) by the United States Securities and Exchange Commission (SEC).

In their February 2025 Blockchain Letter issue, Cosmo Jiang, General Partner, and Eric Wallach, Investment Analyst of Pantera Capital, cited several reasons for their optimism. These include an increase in developer and economic activity, rapid ecosystem growth, and the outstanding performance of SOL's price. They also highlighted Solana's emergence in the Decentralized Finance (DeFi) sector, where it has become a dominant smart contracts platform, attracting new developers and processing the largest volume of DEX trading.

Solana's flagship product, Raydium (RAY), has also exceeded Uniswap (UNI) by a 30% increase in trading volume for two consecutive months. Additionally, Pump.fun, the reigning Solana memecoin launchpad, has broken records by earning $100 million in revenue within 217 days and amassing $15.38 million in daily fees on January 24, driven by Vine Coin. These records and the growing memecoin mania on the launchpad have contributed to Solana's leadership in creating new tokens, with more than 90% of new tokens launched in Q4 2024 being on the Solana blockchain.

Several asset managers have filed their spot Solana ETF S-1 registration with the US SEC, including Bitwise, VanEck, 21Shares, and Canary Capital. Grayscale has also submitted an application to convert its existing Grayscale Solana Trust into a spot Solana ETF. These developments suggest that the crypto community is eagerly awaiting the approval of the Solana ETF.