Will Solana Surpass Ethereum if the US Approves ETFs?
How a US SOL ETF could shift access, flows, and usage — plus the pivotal metrics to determine if Solana can outperform Ethereum.
Key Takeaways:
- ETFs for Ether have facilitated access, yet flows are still cyclical.
- Solana’s market infrastructure is up to par, with CME futures active and options expected by mid-October pending approval.
- New SEC regulations are facilitating quicker listings for commodity ETPs beyond just Bitcoin and Ether.
- For Solana to outperform Ether, consistent creations, effective hedging, genuine on-chain activity, and ongoing developer enthusiasm are crucial.
Ether (ETH) has established a lead in the ETF space, with initial trading for Spot Ether ETFs starting on July 23, 2024, drawing in roughly $107 million on the first day.
However, Solana (SOL) is making strides; the Chicago Mercantile Exchange (CME) launched futures for Solana on March 17, 2025, and options are forthcoming.
In September 2025, the SEC implemented “generic listing standards” which simplify how exchanges can list various commodity ETPs, potentially broadening the acceptable assets beyond Bitcoin and Ether.
Internationally, Solana is already being traded in regulated investment structures in Europe and Canada.
The conversation centers on whether a US SOL ETF can ignite sustained demand, enabling Solana to gain an edge over Ethereum in both market value and operational fundamentals.
Changes Brought by ETH ETFs
Spot Ether ETFs debuted on July 23, 2024, realizing about $1 billion in trading on the first day yet still lagging behind Bitcoin’s historic ETF launch.
Despite improved access through ETFs, market cycles remain — with ETH experiencing alternating periods of inflows and outflows throughout 2025, demonstrating its resiliency but ongoing cyclical trends.
In terms of transaction volume, Ether has surged ahead through significant institutional accumulation driven by ETF demand. However, market cycles indicate an underlying necessity for robust network fundamentals despite the influence of ETFs.
Solana’s Current Profile
In the second quarter of 2025, Solana recorded more than $271 million in network revenue, outpacing all similar blockchain platforms. In significant activity, Solana processed $59.2 billion in peer-to-peer transfers earlier in 2025, signaling a rebound from previous lows.
While Solana’s presence continues to grow, Ethereum remains the principal player for trade volume with stablecoins, leveraging its advanced ecosystem and market history.
Monitoring the potential influences of a US-approved SOL ETF reveals crucial aspects. Will continuous demand manifest through tracked creations and redemptions? The upcoming months will serve as a test for Solana’s competitive position against Ether.
Conclusion
Should a US spot SOL ETF gain approval, attention will focus on its subsequent market effects, necessitating consistent demand metrics and ongoing liquidity development. The ability of Solana to outperform Ethereum will hinge upon whether ETF contributions translate into long-term on-chain adoption.
This article does not endorse any specific investment strategies and is purely for informational purposes.
