JPMorgan Chase anticipates that the Solana spot ETF, if approved, will attract approximately $1.5 billion in inflows during its first year, significantly less than the Ethereum ETF's performance. The bank's report highlights several factors contributing to this modest forecast, including reduced on-chain activity, active memecoin trading, investor fatigue from numerous product launches, and competition from diversified crypto indices like the S&P Dow Jones Indices Digital Markets 50. The report also points out that corporate funds might divert demand away from spot ETFs, and current open interest in CME Solana futures suggests weak demand. Despite these challenges, the market has largely priced in the expectation of the Solana ETF's approval, following the launch of the first Solana ETF in July and existing CME futures contracts.