With the first U.S. spot ETFs for Solana now trading, analysts believe that if they replicate the momentum seen by Bitcoin and Ether products, the inflows could top US$ 3 billion in the first 12-18 months — signaling a major milestone for crypto beyond the top two coins.
The launch of spot ETFs for Solana marks a significant shift in the crypto investment landscape: besides the heavy-hitter tokens like Bitcoin and Ether, investors now have regulated access to a third major chain via a traditional brokerage wrapper.
If Solana’s market cap and relative size to Bitcoin and Ether hold as reference points, the estimated US$ 3 billion in inflows is grounded in comparison: Solana stands at roughly 5 % of Bitcoin’s market cap and 22 % of Ether’s, so similar relative ETF flows could push tens of millions of dollars in early volume. Early data already show Solana’s debut fund hitting around US$ 10 million in volume within the first half-hour, which adds credence to the projection.
Altcoin ETF wave gains real traction
For market participants, this potential inflow has several implications. First, it indicates that institutional and retail appetite may be broadening beyond the “big two” cryptos into the next tier of protocols. Second, it underscores the importance of regulatory product structure: a spot ETF regulated under familiar laws offers a lower-friction route for capital to flow into a crypto asset otherwise accessible only through specialised platforms. Third, as these flows accumulate, Solana could benefit from a virtuous loop: ETF inflows support liquidity and price, which then attracts more capital, raising the asset’s profile further.
However, caveats remain. The actual flows will depend on many factors: issuer marketing, product pricing, crypto market sentiment, and whether Solana’s relative fundamentals (ecosystem maturity, liquidity, risk profile) match those of Bitcoin and Ether. If any of those elements falter, the inflows may underachieve.
Moreover, while US$ 3 billion is a large number in absolute terms, it still pales compared to the tens of billions of capital that Bitcoin ETFs have attracted — meaning the altcoin space remains smaller and possibly more volatile. In summary: the launch of Solana spot ETFs opens the door for meaningful capital, but delivery and execution will be critical for this wave to become more than just hype.
