Solana News Today: "ETF Inflows and JPMorgan Backing Push Solana Toward $200 Milestone"

Solana (SOL) Price Surges on ETF Inflows as Rumble and JPMorgan Drive Crypto Adoption

Solana's token price has rebounded sharply, nearing the critical $200 resistance level, driven by robust inflows into the REX-Osprey Staking Solana ETF (SSK). The ETF, which distributes all staking revenue to investors, reported $24 million in net inflows for the week ending October 25, bringing its assets under management to over $400 million, according to a crypto.news report. This momentum highlights growing institutional interest in altcoin ETFs, with SSK becoming one of Wall Street's largest altcoin funds. Analysts at JPMorgan anticipate that upcoming Solana ETFs from firms like VanEck and Grayscale could attract over $6 billion in first-year inflows, signaling broader acceptance of crypto as a liquid alternative asset, the report added.

The staking model of the SSK ETF differentiates it from future Solana ETFs, which are expected to have lower expense ratios but no direct staking rewards. Despite this, the fund's performance underscores confidence in Solana's network, which has seen a 14% surge in stablecoin supply to $15.6 billion and a 55% jump in adjusted transaction volume to $48 billion over 30 days, the report noted. Solana also holds a significant share of the decentralized exchange market, with its top protocols processing $140 billion in volume last month, trailing only Ethereum's $148 billion, the same report said.

Meanwhile, streaming platform Rumble has introduced a Bitcoin tipping feature, allowing creators to receive direct BTC payments from viewers, according to a Yahoo Finance report. Launched at the Lugano PlanB event in Switzerland, the feature leverages Rumble's in-house RumbleWallet and aligns with a broader corporate push to integrate cryptocurrencies. This move follows JPMorgan's announcement that it will accept Bitcoin and Ethereum as collateral for institutional loans, a development that could further legitimize crypto holdings in traditional finance.

Bitcoin's price action has also drawn attention as it stabilizes near $111,600, with a 1.5% intraday gain as of October 26, the Yahoo Finance report observed. Derivatives data shows bullish dominance, with $7.83 billion in long contracts open versus $5.2 billion in shorts. However, bears have deployed $920 million in short positions around the $112,310 resistance level, which, if broken, could pave the way for a test of $114,000. Conversely, failure to sustain momentum risks liquidations that could pull prices toward $106,500, where $4.5 billion in long contracts are anchored.

The convergence of institutional adoption, ETF innovation, and platform integrations reflects a maturing crypto market. As JPMorgan's collateral move and Rumble's tipping feature illustrate, corporate adoption is accelerating, particularly in the U.S., where regulatory clarity and infrastructure improvements are gaining traction, the Yahoo Finance report added. For Solana, the combination of network growth and ETF-driven demand positions it as a key player in the altcoin space, even as broader macroeconomic factors and trade tensions remain critical watchpoints, the crypto.news report concluded.