Pantera’s Cosmo Jiang: Solana Poised To Be Next Mega Cap Company as ETF Inflows Surge

Pantera's Cosmo Jiang says Solana could become the next mega-cap tech company as Bitcoin’s years of leiitgmization are now paying off. | Credit: Getty Images.

Key Takeaways

Pantera’s Cosmo Jiang believes Solana is potentially on track to become one of the leading blockchain platforms. Years spent legitimizing Bitcoin are now paying off, according to Jiang. Despite record prices and institutional attention, Jiang emphasized that adoption remains low.

Solana could be on track to become the next generation “mega-cap” technology company, according to Pantera Capital General Partner Cosmo Jiang, who said Bitcoin’s years of legitimacy building have ushered in a new phase for the broader crypto landscape.

The comments come amid record-breaking inflows into crypto exchange-traded funds (ETFs) worldwide, propelling Bitcoin to a new all-time high.

Solana: The Next Mega Cap Company?

Speaking on CNBC’s Fast Money on Monday, Oct. 6, Jiang said the last several years have “all been about legitimizing Bitcoin,” but recent U.S. legislation and growing institutional participation are paving the way for broader digital asset adoption.

“Now I think a lot of people get it — the next step,” he said. “What Congress legislation is really enabling is for the rest of the digital assets to really have their place.”

Jiang added that large tech platforms such as Ethereum and Solana are now growing at a rapid pace due to clearer legislation and increased confidence.

“…we believe Solana is on pace to be what could be the next generation mega-cap tech company,” he said.

SOL, the native token of Solana, recorded its highest weekly inflow last week alongside the wave of record-breaking ETF activity.

At the time of reporting, SOL traded at $230.8, representing a 10.3% increase over the past week.

ETF Inflows Are A Bullish Signal

Jiang described 2025 as a turning point for the crypto market, highlighting that Bitcoin ETF inflows have already exceeded those into the Nasdaq 100 since launch.

“Total inflows in the Bitcoin ETF since launch have exceeded that into the NASDAQ,” he said. “That’s the amount of overwhelming demand.”

He added that “so many headwinds are becoming tailwinds for crypto,” as equity investors increasingly embrace digital assets.

The trend, Jiang noted, suggests that traditional markets now see crypto as legitimate parts of diversified portfolios, which will ultimately benefit more niche platforms like Solana.

Bitcoin’s Maturity

While the Bitcoin ETF wave has drawn most of the spotlight, Jiang said the real story is how this legitimacy is cascading to the broader digital asset ecosystem.

“I’d argue Bitcoin is a better version of gold, it’s digital, it’s global, it’s permissionless,” he said.

With the total addressable market for gold at roughly $22 trillion, Jiang sees “10x plus upside from here” if Bitcoin continues to gain traction as a store of value.

Continua a leggere

That legitimacy, he argued, is what will ultimately lift assets like Solana into the ranks of mega-cap companies.

Room to Run

Despite rising prices and mainstream media attention, Jiang pointed out that digital asset adoption is still in its early stages.

Citing a recent Bank of America survey, he noted that “more than 60% of investors still own 0% exposure to digital assets.”

“The idea that it’s too late in the game isn’t true if most people don’t own it,” he said.

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