JPMorgan Pours Cold Water on Solana ETF Hype, Forecasts Tepid Demand

JPMorgan is tempering expectations for the upcoming Solana ETFs, predicting they will attract a relatively paltry $1.5 billion in their first year—a fraction of the inflows seen for spot Bitcoin and Ethereum funds.

While the SEC is expected to approve the first US spot Solana ETFs by the October 10 deadline, JPMorgan analysts suggest the market may be disappointed. They point to the dramatic collapse in the Grayscale Solana Trust (GSOL) premium, which has fallen from over 750% to near zero, as a sign that the “news is already priced in.”

“The strong likelihood of approval for Solana spot ETFs is reinforced by the fact that there is an already established futures contract at CME,” the analysts stated. However, they contrasted the new filings with the existing REX Osprey fund, which is registered under a different act, implying the market landscape is already partially served.