{"id":51442,"date":"2024-08-16T01:36:00","date_gmt":"2024-08-16T01:36:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/solana-etfs-significant-demand-sygnum-research-head"},"modified":"2024-08-16T05:33:56","modified_gmt":"2024-08-16T05:33:56","slug":"solana-etfs-will-not-see-significant-demand-sygnum-research-head","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51442","title":{"rendered":"Solana ETFs will not see significant demand \u2014 Sygnum research head"},"content":{"rendered":"

Solana (SOL) exchange-traded funds (ETFs) will not see significant demand among United States investors, Katalin Tischhauser, head of investment research at crypto bank Sygnum, told Cointelegraph.<\/p>\n

Tischhauser said \u201cminiscule\u201d investor flows into Grayscale Solana Trust (GSOL) \u2014 asset manager Grayscale\u2019s private SOL fund \u2014 indicate weak demand for SOL investment vehicles among US wealth managers.<\/p>\n

Assets under management (AUM) for GSOL are less than $70 million, according to Grayscale. By comparison, Grayscale Bitcoin Trust (GBTC) managed almost $30 billion prior to its conversion to an ETF in January, according to Tischhauser.<\/p>\n

\u201cThe small AUM reflects the relative name recognition of Solana versus Bitcoin,\u201d Tischhauser said.<\/p>\n

Related:<\/strong> <\/em>Crypto ETFs will expand to new asset types, indexes \u2014 Grayscale executive<\/em><\/strong><\/p>\n

Shares of GSOL trade at an unusually high premium to net asset value (NAV) \u2014 upwards of 7x as of Aug. 15. NAV is a measure of the underlying value of SOL per share in the fund.<\/p>\n

\u201cThe high premium suggests some demand, but it\u2019s not the kind of demand that will significantly impact the market,\u201d according to Tischhauser.<\/p>\n

BTC and ETH dominate crypto by market capitalization. Source: CoinGecko<\/em><\/figcaption><\/figure>\n

Bitcoin (BTC) and Ethereum (ETH) ETFs saw record-breaking inflows in 2024 and now command nearly $63 billion in assets under management (AUM) collectively, according to data from Morningstar Inc.<\/p>\n

Since launching in January, BTC ETFs have seen \u201cmore than three times the largest one-year inflow of any ETF ever in the history of ETFs,\u201d said Dave LaValle, Grayscale\u2019s global head of ETFs. \u201cSo, we\u2019re talking about massive, massive adoption.\u201d<\/p>\n

This has sparked a flurry of speculation about which crypto assets are next up for an ETF launch. Asset managers including Franklin Templeton, VanEck, and 21Shares have all expressed an interest in launching SOL ETFs.<\/p>\n

Blackrock, the largest ETF manager by AUM, has no plans to launch a SOL ETF, citing \u201cvery little interest\u201d from its clients.<\/p>\n

\u201cSmaller issuers may make more money than their expenses by launching and running these products,\u201d Tischhauser said. \u201cBut it\u2019s not going to be significant for the crypto market\u2014it\u2019s not going to be exciting.\u201d<\/p>\n

Magazine: <\/em>NFT Creator: ThankYouX hits Sotheby\u2019s as his career *literally* blasts into space<\/em><\/strong><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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Solana (SOL) exchange-traded funds (ETFs) will not see significant demand among United States investors, Katalin Tischhauser, head of investment research at crypto bank Sygnum, told Cointelegraph. Tischhauser said \u201cminiscule\u201d investor flows into Grayscale Solana Trust … Solana ETFs will not see significant demand \u2014 Sygnum research head<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51445,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,5652,159,97,6693,5667],"class_list":["post-51442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-emilynews","tag-hyipnews","tag-hyips","tag-moneyonline","tag-solana","exalt-entry"],"yoast_head":"\nSolana ETFs will not see significant demand \u2014 Sygnum research head - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51442\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana ETFs will not see significant demand \u2014 Sygnum research head - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Solana (SOL) exchange-traded funds (ETFs) will not see significant demand among United States investors, Katalin Tischhauser, head of investment research at crypto bank Sygnum, told Cointelegraph. 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