The rising excitement surrounding alternative cryptocurrency ETFs in 2025 has turned the spotlight onto the possibility of a potential Solana [SOL] ETF.
Industry leaders have already expressed their anticipation, and now Pantera Capital has underscored this forecast, pointing to SOL’s robust fundamentals.
Pantera Capital Teases an Impending Solana ETF
In February 2025, Pantera Capital published a report titled “Tailwinds Emerging from Headwinds.” Cosmo Jiang, General Partner at Pantera Capital, and Eric Wallach, Investment Analyst, highlighted factors indicating a shift in market dynamics.
These shifts could open the door for SOL ETF approval. The report indicated,
“We also anticipate Solana to be one of the top contenders for the next digital asset to have an ETF. It boasts strong fundamentals supporting a favorable investment proposition, is a prominently traded digital asset on reputable exchanges that are closely monitored, and its ownership is broadly decentralized – all critical factors.”
In fact, prominent firms such as Canary Capital, VanEck, 21Shares, and Bitwise have joined the race, indicating a surge in interest to introduce SOL to Wall Street.
Why is Solana Center Stage Among Other Alternative Cryptocurrencies?
Solana’s emergence as a leading smart contract platform is propelling this momentum, outperforming rivals in essential metrics.
The platform has lured the highest number of new developers and handled unprecedented DEX trading volumes. It has even surpassed Ethereum [ETH] in fee generation.
Solana’s key DEX, Raydium (RAY), has outpaced Ethereum’s Uniswap (UNI) by 30% in trading volume for two consecutive months.
The enthusiasm surrounding Pump.Fun triggered a boom in new token launches on Solana, with over 90% of new tokens debuting on its network in Q4 2024.
Solana is also the favored platform for AI agent tokens and decentralized science (DeSci) cryptocurrencies.
In 2024, Solana welcomed 7,625 new developers, surpassing Ethereum’s count of 6,456.
Solana’s expanding dominance reinforces its persuasive argument for ETF approval, solidifying its position in the evolving crypto landscape.
What about Other Alternative Cryptocurrency ETFs?
Notwithstanding this, data from Polymarket proposes an 84% likelihood of SOL ETF approval in 2025.
Nevertheless, despite this positivity, SOL’s value has experienced short-term strain, declining by 1.30% in the last 24 hours to $192.40, according to CoinMarketCap.
While this drop may be connected to ETF speculations, broader market conditions could also be influential.
Moreover, interest in alternative cryptocurrency ETFs is expanding beyond Solana, with the odds of Ripple [XRP] ETF approval at 80%, Litecoin [LTC] at 87%, Cardano [ADA] at 59%, and Dogecoin [DOGE] at 31%, among others.
This surge in potential ETF approvals hints at the increasing institutional demand for crypto-based financial products, underscoring the growing mainstream acknowledgment of digital assets.