A new analysis co-authored by former SEC chief economists states that Solana (SOL) has deep liquidity and strong cross-exchange price correlations, positioning it alongside Bitcoin and Ethereum. This strengthens the case for regulatory approval of exchange-traded products (ETPs) for Solana in the US. The analysis examines Solana's market characteristics, including liquidity, effective spreads, trade costs, and price correlation. Solana's liquidity, proportion of circulating supply available for trading, and effective spreads are comparable to or better than Bitcoin and Ethereum. The high correlation and effective arbitrage mechanism make it difficult to manipulate the price of Solana on a single exchange. These findings suggest a healthy and well-functioning market, potentially making Solana a strong candidate for future US-listed crypto investment products.



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