Solana News Today: Bitwise ETF Ignites Solana's Institutional Staking Frenzy

Solana's native token SOL faces critical support levels as analysts weigh in on its potential rebound following the record-breaking debut of the Bitwise Solana Staking ETF (BSOL). The ETF, which launched on October 28, 2025, drew $56 million in first-day trading volume-the highest for any ETF in 2025-according to Bloomberg analyst Eric Balchunas. This milestone underscores growing institutional confidence in Solana's ecosystem, with the fund staking 100% of its assets on-chain to generate annualized staking rewards of approximately 7%.

Despite the ETF's success, Solana's price has since retreated to $193.74, a 2.48% decline from its recent highs, as broader crypto market volatility and Bitcoin's struggle against $116,000 pressure weigh on sentiment; the cryptonewsz article noted this pullback. Analysts highlight that SOL must hold above $190 to rekindle bullish momentum, with a long-rejection candle forming at this level suggesting resilience, the same article added. A breakdown below $190 could trigger a retest of the $180 support trendline, while a sustained recovery above $205 could propel the token toward $237 and eventually $255, according to FXStreet.

The ETF's launch has already begun reshaping Solana's market dynamics. Bitwise seeded the fund with $220 million, and its temporary 0% fee structure for the first three months or until assets reach $1 billion aims to attract further inflows, the cryptonewsz coverage observed. The fund's success contrasts sharply with smaller openings for other crypto ETFs like HBAR and LTC, which saw $8 million and $1 million in day-one volumes, respectively, per the same coverage. Meanwhile, Grayscale's converted Solana ETF (GSOL) reported modest $1.4 million in inflows, according to Yahoo Finance.

Institutional interest has surged alongside the ETF frenzy. A notable $40 million whale transfer to Coinbase Prime, coinciding with the BSOL launch, signals liquidity provision by long-term holders who acquired SOL at $1.68 in 2020, according to a Coinotag report. This movement aligns with broader on-chain activity, including Jump Crypto's recent $205 million SOL-to-BTC swap, which triggered an 8% selloff in Solana's price to $182, as reported by Yahoo Finance.

Technical indicators present a mixed outlook. While the Relative Strength Index (RSI) at 62 suggests lingering buying pressure, the MACD risks crossing below its signal line, signaling potential bearish momentum, the FXStreet piece observed. On the daily chart, SOL hovers near $198–$200, with $205 as the key resistance for a potential breakout toward $210–$220, according to CoinEdition. Analysts like MartyParty argue that a successful breach could accelerate momentum toward $250, a major psychological target, as noted by Coinpaper.

The ETF-driven narrative extends beyond the U.S. Hong Kong's approval of ChinaAMC's Solana ETF and Western Union's planned USDPT stablecoin on Solana in 2026 further solidify the blockchain's institutional appeal, the Coinpaper article observed. Western Union's initiative, leveraging Solana's low-cost, high-speed network, aims to bridge traditional finance and digital assets, with USDPT set to debut in early 2026, Coinpaper added.

Despite bullish catalysts, market participants remain cautious. Polymarket traders assign only a 25% probability to Solana hitting a new all-time high before 2026, according to CryptoNews. Short-term volatility may persist as macroeconomic factors, including U.S.-China trade talks and Federal Reserve policy, remain pivotal, the Yahoo Finance coverage of the Jump Crypto sale warned.

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