Solana does not yet have a stock exchange fund, but one of the asset’s largest backers is to bet on the Wall Street-friendly vehicle could come in the 2025-and thinks it is well positioned to hike Ethereum’s various similar products.

Multicoin Capitals Kyle Samani – a major investor in sun and countless subordinate protocols – has publicly pressed Securities and Exchange Commission (SEC) to look positive on a Sun Etf. His Bullish statements may therefore come as a little surprise.

But on stage on Tuesday at Blockworks’ Digital Asset Summit in New York City, Samani explained that he thought Solana is better placed to appeal to traditional investors than Ethereum did. It’s about the money: The fees generated on-chain compared to the value of the asset’s whole.

“Much of the reason ETH ETF didn’t have a super strong reception was a lot of investors looking at ETH and said ‘show me the fees,’ Samani said.

In his narrative, they did not find much evidence to justify investment at its high prices.

Stock traders often look at a company’s price for earnings conditions by deciding whether it is over or underestimated; In other words, when to invest. Crypto does not have such a pure metric, but blockchains still have revenue and symbols that can be mushed together for similar effects.

Samani believes that Solana’s theoretical P/E relationship is much healthier from an investment point of investment than Ethereums. His math on stage placed Solana as trade 30 to 50 times its P/E, whereas Ethereum acts closer to 1,000 times.

Solana’s P/E ratio is “much more in line with technical stocks with high growth,” Samani said.

If the logic plays out, traditional investors can be expected to believe that Solana has more upside than Ethereum and invests accordingly.