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Ethereum ETFs: Bad news for Solana as investors ‘Go all in ETH’

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Solana underperforms ETH on price charts but still held a bullish market structure and positive sentiment despite ETF speculation.

SOL has since become a target of social media dunk as the market increasingly adapts to the possibility of an ETH ETF. One Solana builder and user, Nigel Eccles,

Eccles added that an ETH ETF approval would sanction ETH as the legitimate smart contract chain. As a result, he would rather pivot to it than stick to Solana, That said, the SOL/ETH ratio dipped by 19%, from 0.05 to 0.046, before attempting a rebound at press time. It meant that SOL shed 19% of its value against ETH.

 

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