It’s been a while since then Solana “Ethereum Killer,” but Anthony Scarumucci leaned over the story.
The Skybridge Capital founder told an audience at the Digiassets 2025 conference, “I think Sol will turn ETH,” admitting that “I have no opinion on ETH.”
“I went into cryptography late. My first crypto investment was in 2020,” he said, explaining that he “didn’t actually board the ship” with Ethereum. “I don’t have any negative opinions,” he added. “I just have a little better understanding of Solana’s story.”
Skybridge “have nine figures on Bitcoin and Solana’s corporate balance sheets,” Scaramucci added, “there is “probably 40% of the client’s money across digital assets,” including Multicoin Capital and Brevan Howard Digital. Like the funds that have “some digital funds out there,” he said, “there are around $300 million in what’s called the coin fund. There’s probably Solana, there’s avalanches, polka dots, lots of bitcoin.”
Solana vs Ethereum
Scaramucci’s paper appears to be extended to the degree. After hitting a record high of $293.31 in January 2025, Solana fell 23.2% a year to skate to around $145. Meanwhile, Ethereum has dropped by 24.75% since the beginning of the year. Solana’s market capitalization is currently just above $760 billion, while Ethereum is second in the Bitcoin-only rankings at $300 billion.
The founder of Skybridge Capital offered no time frames where Solana’s market capitalization might overturn that of Ethereum. His views appear to be at odds with those of banking group Standard Chartered.
A research note issued by the bank last month claimed Solana would slow performance against Ethereum for the next “two to three years.”
Standard Chartered analysts predicted Solana would reach $275 by the end of the year and $500 by the end of 2029, but Ethereum was in the top $7,500, with $4,000 in 2025 and $7,500 in 2029.
However, analysts at Cantor Fitzgerald share Scarumucci’s dissent. Cantor is particularly bullish at Solana Treasury Companies, a publicly listed company that stacks Sol on its balance sheet, and believes Sol has a greater advantage over ETH.
In a report earlier this week, an investment bank analyst wrote: “When comparing Layer-1, Solana’s technology is meaningfully better than Ethereum on all metrics.”
