Although Ethereum displays a higher market capitalization than Solana, the CEO of Bitwise, Hunter Horsley, believes that Solana could take the advantage in the segment of the funds negotiated on the stock market (ETF) linked to the Staking. He underlines that the architecture of the Solana network could attract investors looking for staking opportunities, in particular via ETF.
In short
- The Solana network allows faster disengagement, making it more attractive for ETF issuers and investors in search of liquidity.
- The withdrawals of Stuking on Ethereum accumulate, which complicates rapid access to funds for ETFs and their investors.
Stoking withdrawals: Ethereum lagging behind, Solana in advance
Stoking consists of locking its cryptocurrencies to secure a blockchain network. In exchange, investors receive rewards in the same asset. However, the withdrawal of Staké funds is not immediate: the deadline varies according to the network charge.
In this context, Horsley highlights the speed of Solana, whose withdrawal process is much more fluid. While Ethereum faces record queues, Solana generally manages to deal with releases faster. This speed represents a notable advantage for ETFs, which can restore funds to long timeless investors, an essential asset in terms of liquidity.
On the Ethereum side, the deadlines continue to lie down. At the beginning of September, the entry queue culminated at 860,369 ETH, a record since 2023. It is currently in 195 209 ETHwith an estimated delay at around 3 days and 9 hours.
For outings, the queue has reached 2,004,829 ETH, a waiting time close to 35 days. The network now has 1.04 million active validators, and 35.6 million ETH are stakes, or 29.39 % of the total supply.
Although Ethereum has solutions to reduce these deadlines, they are not without compromise. Excluding the ETP of Stuking Ethereum launched by Bitwise in Europe, which relies on credit ease in order to ensure the liquidity of redemptions, at the price of additional cost and limited capacity. Another alternative: liquid stoking tokens, such as the Steth de Lido, which allow investors to maintain flexible access to their funds while receiving rewards.
Towards a regulatory green light for Solana ETF
According to analyst Nate Geraci, the American sec could approve several ETFs of Stoking Solana in mid-October, following updated deposits of several companies. Among them: Fidelity, Bitwise, Franklin Templeton, Vaneck, Canary Capital, Grayscale and Coinshares, who have all revised their S-1 forms to include staking options.
In this buoyant context, the first ETF of Stoking Solana launched in the United States-the Rex-Osprey Solana Staking ETF-was created in July. From his first day, he recorded $ 12 million in admissions and $ 33 million in volume exchanged, illustrating the growing market appetite for products related to sting. These first results suggest that the Solana ETF could continue to arouse strong interest as the market is gaining in maturity.
Finally, in August, the SEC repelled its decisions concerning the ETHA ETHE ETHE ETF at the end of October. The agency also set the new deadline for the Ishares Ethereum Trust of Blackrock's new deadline for October 30. These postpones could offer Solana a pioneer advantage on the American Stuking ETF market.
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