Solana News Today: Solana ETF Gains Momentum as Institutions Stake Bets Amid Crypto Market Volatility

The Solana (SOL) spot ETF market is gaining momentum as institutional interest surges, with VanEck's recent partnership with SOL Strategies signaling growing confidence in the asset class. On November 17, VanEck announced that SOL Strategies would serve as the custodian and staking service provider for its upcoming Solana spot ETF. This collaboration leverages SOL Strategies' Orangefin validator node, which has already secured over $4.37 billion in staked assets and holds ISO 27001 and SOC 2 certifications. The ETF's filing of an 8-A form with the SEC marks a critical step toward regulatory approval, positioning VanEck to capitalize on the expanding crypto ETF landscape.

Institutional demand for Solana has been further bolstered by cumulative ETF inflows totaling $390 million, driven by anticipation of future product launches. This trend aligns with on-chain data suggesting that SOL may have found a floor near $130, with technical indicators pointing to a potential rebound toward $250.

The RSI has climbed from 28 to 50 since November 13, while open interest in futures contracts has risen 5% to $7.3 billion. Analysts highlight that previous rebounds from the $130 level in 2024 and 2025 triggered double-digit gains, fueling optimism about a similar trajectory.

Forward Industries, the largest publicly traded SOL treasury company, has also injected liquidity into the market. The firm deposited 1.443 million SOL ($201.34 million) into Coinbase Prime on November 18, following a monthly update revealing holdings of 6.91 million SOL-over 1.25% of Solana's total supply. These moves underscore the company's strategic role in stabilizing the asset's price, as its staking infrastructure generates a 6.82% annualized yield.

Meanwhile, the broader crypto ETF sector is seeing fierce competition. The XRP ETF, which debuted with $245 million in net inflows, now leads 2025's ETF launches. However, Bitwise's Solana Staking ETF (BSOL) remains a key contender, having previously set a record with $57 million in opening-day volume. While XRP's success highlights growing appetite for crypto-linked products, Bitcoin and Ethereum ETFs still dwarf these figures, with BTC's debut in 2024 recording $4.6 billion in trading volume.

Despite a volatile market environment-marked by Bitcoin dipping below $100,000 and a $870 million outflow from BTC ETFs-Solana's institutional adoption appears resilient. With VanEck's ETF advancing through regulatory channels and forward-looking indicators suggesting a bullish case, the asset is poised to test its previous highs in the coming months.