On June 19, SkyBridge’s founder, Anthony Scaramucci, made a bold prediction about the cryptocurrency landscape at the DigiAssets 2025 conference, saying that Solana will surpass Ethereum in market position in the future.
Anthony Scaramucci revealed that he only entered the cryptocurrency space in 2020 and initially overlooked Ethereum, only later gaining a deeper appreciation for Solana.
(Source: KENSON INVESTMENTS)
Scaramucci revealed that SkyBridge Capital holds nine figures worth of Bitcoin and Solana on its balance sheet, with around 40% of client funds invested in digital assets.
The firm also manages a $300 million crypto fund that likely includes SOL, Avalanche, Polkadot, and Bitcoin. However, he did not reveal the exact timing when Solana might flip Ethereum in market cap.
Solana ETFs Likely to Get SEC Approval In July
The statement comes amid a wave of new Solana ETF filings from its issuers after the Securities and Exchange Commission (SEC) asked issuers to submit S-1 filings with amendments. After that, seven ETF issuers have submitted S-1 filings with amendments. There is a buzz in the community that Solana ETF could get a green signal from the SEC.
The odds on the prediction market, Polymarket, suggest that the odds of the SEC approval are around 70%
However, Bloomberg senior ETF analyst James Seyffart said that “Delays on spot crypto ETFs are expected. If we’re gonna see early approvals from the SEC on any of these assets — I wouldn’t expect to see them until late June or early July at absolute earliest.”
Amid the boom in the cryptocurrency market under US President Donald Trump’s pro-crypto stance, many altcoin ETFs are awaiting approval. For example, the SEC is expected to provide an update on Franklin Templeton’s filing to launch a spot XRP ETF after postponing its decision in May.
Solana Faces Major Consolidation Phase: Preparing for Breakout?
The SOL token is still facing turbulence and passing through a major consolidation zone, dipping in value. In a week, SOL has dropped by 9.05%, declining from $158 to $143, according to CoinMarketCap.
At the time of writing, Solana is trading at around $143.68. However, bullish signals like rising trading volume, ETF interest, and a strong technical pattern suggest more gains ahead. Solana’s DeFi ecosystem is also growing, with $8.31 billion now locked in its protocols.
Despite a dip in its price, if SOL surpasses the key level of $170, it could create a major breakout in its price and spark another rally. On the other hand, memecoin mania continues with LILPEPE’s hot presale.
Also Read: XRP Price To Chase $4 High With This Pattern Breakout
