As the excitement around exchange-traded funds (ETFs) continues to build, it appears that Solana (SOL) and Ethereum (ETH) are set to outshine Bitcoin (BTC) in the near future. The recent filing by VanEck for a spot Solana ETF has drawn significant attention, with Solana's price rallying to $150 after the announcement.

Solana's Readiness for a Spot ETF

According to a report by cryptocurrency market maker GSR, Solana is well-positioned for a spot ETF approval in the U.S. The report highlights Solana's strong performance on two key factors: decentralization and potential demand. GSR's "ETF Possibility Score" ranks Solana positively, placing it immediately after Ethereum in terms of readiness for a spot ETF.

Potential Price Surge for Solana

The GSR report draws parallels between Solana's potential price movement and Bitcoin's surge following its own spot ETF approval. The report outlines three possible scenarios for Solana's price increase:

A bear case with a 1.4x price jump.

A base case estimating a 3.4x increase.

A "blue sky" scenario predicts an 8.9x rise, representing the most optimistic inflow estimates.

Ethereum ETF Launch Next Week

Meanwhile, investors are eagerly anticipating the launch of the spot Ethereum ETF next week, around July 2-4. U.S. SEC Chairman Gary Gensler recently stated that the review process for spot Ethereum ETF applications is progressing smoothly. Big players like VanEck have already announced zero fees for their spot Ether ETFs, indicating their confidence in the product. According to Galaxy Digital Holdings LP, this investment product could see inflows of around $5 billion during the first six months of launch.

Outperforming Bitcoin

With Bitcoin on a significant downtrend throughout June, both Ether and Solana have managed to outperform BTC over the past month. Just as Bitcoin enjoyed a massive bull run following the launch of spot Bitcoin ETFs earlier this year in January, Ether and Solana could follow a similar trajectory.

In conclusion, the ETF hype surrounding Solana and Ethereum is likely to drive their prices higher and outperform Bitcoin in the near term. Investors should closely monitor the developments in the ETF space and consider diversifying their portfolios accordingly.