Bernstein: 'SOL=Commodity' Anticipation to Gain Traction with ETH Spot ETF Approval

IconCryptoNewsTerminal Staff23 May, 2024

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Bernstein: 'SOL=Commodity' Anticipation to Gain Traction with ETH Spot ETF Approval

Bernstein analysts Gautam Chhugani and Mahika Sapra anticipate that the approval of a spot-based Ethereum ETF will drive interest in Solana (SOL) as a potential commodity. They believe that the correlation between SOL and Ethereum (ETH) will strengthen, leading to increased adoption of SOL in decentralized finance (DeFi) applications and non-fungible tokens (NFTs). The analysts also noted the recent launch of the Solana Prime brokerage service, which aims to provide institutional investors with access to the Solana ecosystem. This, they believe, will further contribute to SOL's growth as a potential commodity.

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