Rails CEO Satraj Bambra: 'Long Solana, Short ETH' in September as Galaxy Tokenizes Shares on Solana

September has long been a tricky month for crypto markets, often marked by choppy trading and sudden shifts in sentiment. This year, the spotlight is on Ethereum and Solana, with experts weighing in on which chain is poised to lead.

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Satraj Bambra, CEO of Rails, a newly launched hybrid exchange, and Managing Partner & CIO at Round13, where he runs a $100M liquid fund, believes Solana may have the edge. Speaking on market conditions, Bambra highlighted the historical challenges of September trading while laying out his prediction for a “long Solana, short ETH” strategy.
“September is always a tricky month to trade, with the first week being the most telling. Historically, it’s been down and choppy. Right now, Solana looks strong, largely tied to activity around its digital asset treasuries and Galaxy’s upcoming announcement. I expect it to run up into that event. This kind of back-and-forth often sets the stage for a strong rally in October. We can expect Solana to outperform ETH this month, making the trade long Solana, short ETH.”

Satraj Bambra, CEO of Rails
Galaxy Digital Tokenizes Its Own Stock on Solana

Satraj's comments arrive just as Galaxy Digital made history by becoming the first Nasdaq-listed company to tokenize its equity shares on a public blockchain. Through a partnership with Superstate, Galaxy’s Class A Common Stock ($GLXY) is now available in tokenized form on Solana, enabling shareholders to hold, send, and receive their equity onchain.

Unlike wrapped tokens, these onchain shares represent real SEC-registered equity with the same rights as traditionally formatted stock. The move underscores Solana’s role as a preferred blockchain for tokenization thanks to its high throughput, fast settlement, and growing DeFi ecosystem.

Galaxy shares ($GLXY) opened trading on Solana with contract address: 2HehXG149TXuVptQhbiWAWDjbbuCsXSAtLTB5wc2aajK. While AMM-based trading has not yet been enabled, bilateral transfers are live for allowlisted entities.

Why Solana Could Outperform ETH

Beyond Galaxy’s milestone, Solana’s strength is being driven by Digital Asset Treasury (DAT) activity, heightened developer traction, and liquidity flows migrating toward its DeFi ecosystem. Ethereum, despite recent price gains, faces headwinds from scaling pressures and shifting regulatory narratives.

Key factors shaping the Solana vs. Ethereum outlook:

Developer Growth: Solana recorded >3,500 monthly active developers in 2025, second only to Ethereum, with growth outpacing rivals quarter over quarter.
DeFi Liquidity: Solana’s TVL climbed above $14B in August, doubling since Q1 2025, while Ethereum’s DeFi dominance slipped from 60% to under 52%.
Tokenization Tailwinds: Galaxy’s tokenization of GLXY shares marks the first Nasdaq-listed U.S. equity on a public blockchain, positioning Solana as a hub for RWA innovation.
Network Performance: Average fees remain below $0.002 per transaction, with throughput scaling comfortably above 65,000 TPS, versus Ethereum’s ongoing congestion despite L2 adoption.
DAT Adoption: Digital Asset Treasury pilots on Solana are expanding, with several funds testing stable yield structures and settlement rails onchain.

The convergence of macro uncertainty, new tokenization models, and Solana’s technical edge reinforces Satraj’s forecast. If history holds, September turbulence could indeed prime the market for an October rebound—with Solana leading the charge.