Additionally, Bitcoin and Ethereum have grown by 100% and 82% respectively over the same time frame. The growth has cemented SOL alongside both BTC and ETH as one of the top three cryptocurrencies in the market. This fact has led to two companies filing for a Solana Spot ETF just this week.
SOL beats both Bitcoin and Ethereum in terms of year-to-date gains
The US has approved two cryptocurrency-based ETFs so far in 2024. That number is expected to increase, and Solana has emerged as a popular investment product, especially as its 800% year-to-date growth has outpaced both Bitcoin and Ethereum.
A recent report from GSR Markets said that SOL “has established itself as part of the Big Three of crypto.” Additionally, they claimed that it was “only a matter of time before Solana” gets its own ETF. That would put the three assets in a rarefied position, but it seems increasingly likely.
Both 21Shares and VanEck filed for its Solana investment product this week. It speaks to Sol’s potential as an investment offering, as well as to the regulatory shift in the country. Moreover, it could signal an even larger, broader shift that is underway.
Bloomberg recently said that “Bitcoin’s performance is starting to be eclipsed by Ether and Solana” as ETF mania grows. There is also hope that Solana could get a much-needed boost from investment product discussions. If approved, it would be a huge boost to the industry and the token itself.
See more: Predict when the first XRP ETF will launch
