Market maker GSR goes long on SOL, expecting it to outperform BTC | Headlines | News | CoinMarketCap
06/27/2024 21:56
GSR says Solana “continues to distance itself from the pack” and is long SOL — the first time the crypto market maker has been long a token. In a …
The Block Crypto News7 minutes ago
Foresight
Solana
ETF
Block
ETF
Published on June 27, 2024 14:47 GMT+00:00edited on June 27, 2024 14:49 GMT+00:00
GSR says Solana “continues to distance itself from the pack” and is long SOL — the first time the crypto market maker has been long a token.
In a note out Thursday, GSR trumpeted Solana’s “superior technology” and the changing U.S. political landscape for why a spot Solana ETF could be next in line following the launch of spot Bitcoin ETFs in January and the anticipated launch of spot Ethereum ETFs later this summer.
The note was published on the same day that fund manager VanEck filed for an exchange-traded fund that would track the price of Solana.
"[C]hange is already afoot with Donald Trump’s newfound backing of the crypto industry, which has in turn caused Democrats to loosen their stance against digital assets in a tight election year,” GSR analysts wrote in the report.
“And …