Solanas Inflection Point: The Next Institutional Adoption Story

Pantera Capital

/2025.09.19 23:07:06

This article argues that Solana is at a major inflection point for institutional adoption. Its currently under-allocated by institutions compared to Bitcoin and Ethereum, and a potential Solana ETF in late 2025 could trigger a new wave of capital, offering significant upside potential.

We believe Solana is approaching a major inflection point in its adoption—by consumers, fintechs, & institutions.

Blue-chip companies like Stripe & PayPal are starting to build on it.

The stories for Bitcoin and Ethereum have largely been told. Solana's is just beginning 👇

The ETF launches accelerated institutional adoption of BTC and ETH.

43 Bitcoin ETFs. 165 public companies hold BTC.
21 Ethereum ETFs. 16 public companies hold ETH.

Solana is still in its early days:

0 Solana ETFs. 5 public companies hold SOL.

Institutions are currently under-allocated to SOL relative to BTC & ETH, holding less than 1% of the total supply—compared to 16% of BTC and 7% of ETH.

With a Solana ETF approval expected as early as Q4 2025, we believe Solana is next in line for its "institutional moment".

In terms of market capitalization, Solana is still just a fraction of Bitcoin (1/20th) and Ethereum (1/4th)—yet it leads both in key usage metrics.

We believe Solana’s adoption story is just beginning, offering greater asymmetric upside potential.

Source # Solana # ETF # Bitcoin # Ethereum

Add to Favorites Download image Share x Copy link

Relevant content

When Wall Street Owns Bitcoin: ETF Concentration, Losses, and the Search for a New Narrative

Nearly 10% of Bitcoin is now held by Strategy and spot ETFs. With average ETF cost bases above price, $7B+ in unrealized losses and record outflows show normie capital under pressure—leaving BTC dependent on a fresh narrative to reaccelerate.

Jim Bianco/2026.02.03

BitcoinETFs MicroStrategy InstitutionalAdoption MarketStructure UnrealizedLosses

Why Bitcoin Fell While “Crypto” Bled: The Contagion Trade Explained

Bitcoin’s weak year isn’t OG selling or a “silent IPO.” It’s crypto contagion. Illiquid altcoins forced insiders to sell BTC to prop up air-token markets, while disciplined capital (ETFs, MSTR, Wall St) drained volatility and killed alt-season rotations.

Bit Paine/2026.01.28

Bitcoin Altcoins Liquidity MarketStructure

Gold at $5,000 Is Not Bitcoin’s Failure—It’s the First Act

Gold’s parabolic breakout isn’t a Bitcoin defeat but the same debasement trade unfolding in phases. Gold moves first as the hedge for states; Bitcoin follows as the hedge for people. They trend together long term, but cycle apart short term.

Swan/2026.01.27

Gold Bitcoin Debasement Macro Cycles

The 2026 Rotation Playbook: How 100 Still Happens in Crypto

100 gains didn’t disappear—they changed form. In a hyper-diluted market, winners stack gains by rotating early between narratives, not holding forever. This playbook explains how to spot rotations, size positions, take profits, and compound phases in 2026.

cyclop/2026.01.22

Rotations Narratives Liquidity Positioning Compounding

Seven Trading Lessons That Turned Pain Into Process

A veteran trader distills seven hard-earned lessons that prevent blown accounts and emotional spirals. From market context and risk control to playbooks, journaling, and process-first thinking, this guide shows how consistency—not signals—builds long-term trading edge.

Morin/2026.01.21

Risk Process Discipline Journaling Context

Draining the Bots: How a Trader Made $233K Exploiting Polymarket’s Thin Liquidity

A trader pulled off a $233K overnight play on Polymarket by exploiting thin weekend liquidity. By baiting market-making bots in 15-minute markets and briefly nudging spot price, he forced mispricing and cashed out risk-efficiently.

PredictTrader/2026.01.19