- ETF approval may drive Solana closer to Ethereum.
- Analysts stress importance of onchain activity and liquidity.
- Solana’s growth depends on more than just hype.
The crypto world is buzzing about the possibility of a Solana ETF approval, a move that could catapult the blockchain into the big leagues. While Ethereum has long held the number two spot after Bitcoin , some analysts believe Solana might be the next contender—but only under the right conditions.
Experts say an ETF would increase Solana’s exposure to institutional investors and bring more capital into its ecosystem. However, it’s not just about the headlines. For Solana to truly challenge Ethereum, it must sustain strong onchain activity and deep liquidity across decentralized platforms.
ETF Approval Is Only Half the Battle
Unlike Ethereum, which already has a mature ecosystem and an approved spot ETF (as of 2025), Solana still has to prove itself. An ETF would be a major milestone, but it’s not a silver bullet.
According to analysts, if Solana’s daily transaction volumes, DeFi activity, and developer ecosystem continue to grow, the ETF could amplify its rise. Without that real-world traction, however, the ETF may have limited impact beyond short-term price spikes.
Onchain Strength Will Decide Solana’s Future
Solana has already made headlines in 2025 for its low fees, fast transactions, and rising NFT activity. But Ethereum still leads in total value locked (TVL), smart contract adoption, and institutional trust.
For Solana to surpass Ethereum, it must not only attract retail interest but also maintain long-term liquidity, active users, and developer engagement. If it can do that while leveraging ETF inflows, it might just become Ethereum’s biggest rival yet.
