Solana News Today: Solana Rises 4.5% as ETF Delays Seen as Procedural Hurdle

Solana (SOL) surged 4.5% this week, trading near $193.33, despite ongoing delays from the U.S. Securities and Exchange Commission (SEC) regarding approvals for Solana-based ETFs. The SEC has extended its decision timeline for applications from Bitwise and 21Shares to October 16, 2025, citing the need for further examination of market integrity, investor protection, and Solana’s regulatory classification [1]. This mirrors the prolonged review processes seen for Bitcoin and Ethereum ETFs before their eventual approvals. Analysts suggest the delay is being viewed as a procedural delay rather than a definitive obstacle to approval [2].

Institutional demand for Solana remains robust. The REX Shares Solana Staking ETF (SSK) has surpassed $150 million in assets under management, with a record $13 million in inflows and $66 million in trading volume recorded in a single day [3]. This indicates strong investor confidence in Solana, even within the limited framework of currently available regulated products. Other major financial firms, including Grayscale, Fidelity, ProShares, and Canary Funds, have also submitted Solana-related ETF applications, while BlackRock has chosen to focus exclusively on Bitcoin and Ethereum products [1]. This divergence underscores Solana’s unique positioning in the institutional investment landscape.

Technically, Solana’s price has rebounded from $190 and remains above its 50-day simple moving average at $188, supporting a bullish outlook. The price has followed an ascending trendline, forming higher lows and indicating sustained buying pressure. The Relative Strength Index (RSI) stands at 53, and the MACD histogram is approaching a potential bullish crossover, signaling growing momentum. A breakout above the $198 resistance level—part of an ascending triangle pattern—could open the path to $205 and possibly $214. A failure to break above $198 would likely see support tested at $188–$186, with a drop below $174 signaling a weakening trend [1].

Market sentiment appears to be moving beyond regulatory delays. Analysts at Bloomberg estimate a 95% likelihood of approval for Solana ETFs by October 2025, with prediction markets showing even greater optimism [2]. If approved, Solana could follow in the footsteps of Bitcoin and Ethereum, becoming one of the few U.S. spot ETFs in the crypto space. This could potentially attract billions in inflows during its first year, reinforcing its position among top digital assets.

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Source:

[1] Solana Price Prediction: SOL Jumps 4.5% This Week – Is the Market Ignoring SEC Delays?

https://cryptonews.com/news/solana-price-prediction-sol-jumps-4-5-this-week-is-the-market-ignoring-sec-delays/

[2] Bloomberg Analysts Estimate 95% Odds of Solana ETF Approval by October 2025

(Internal Bloomberg Reference)

[3] REX Shares Solana Staking ETF Hits Record Inflows and Trading Volume

(Internal REX Shares Reference)