Overview

• JPMorgan projects roughly $1.5 billion of first‑year net inflows into spot Solana funds, far below Ethereum’s take and a fraction of Bitcoin’s.
• Analysts cite waning on‑chain activity, heavy memecoin trading, investor fatigue, competition from diversified crypto index products, and corporate treasuries as key headwinds.
• Weak positioning in CME Solana futures signals limited institutional interest ahead of potential launches, according to the bank.
• The premium on Grayscale’s Solana Trust has fallen from about 750% last year to near zero, echoing the pre‑launch pattern seen in Bitcoin and Ethereum products.
• The SEC is expected to rule on a batch of spot crypto ETF filings in October, and one Solana ETF approved in June logged about $12 million on its first day.