Key Insights:
- Solana trades above $200 with over 10% weekly gains as investors respond positively to institutional ETF launches.
- Bitwise introduces the Solana Staking ETF offering full exposure and staking rewards, fueling confidence among institutional players.
- Analysts project further upside, with potential targets of $300 in the near term and up to $600 by late 2025.
Solana continued its bullish momentum this week, rallying above the $200 mark after rebounding from a strong support zone. The cryptocurrency gained nearly 2% in the last 24 hours and advanced more than 10% over the past week. The upward movement followed a breakout that reinforced market confidence and pointed toward renewed investor interest in Solana’s long-term potential.
The market’s optimism strengthened as Bitwise introduced the Solana Staking ETF, trading under the ticker BSOL. The fund provides direct exposure to Solana while staking 100% of its holdings to capture the average annual rewards of around 7%. It is the first U.S. exchange-traded fund fully dedicated to Solana, marking a significant step toward broader institutional participation in the asset.
New ETF Launches Add to Market Confidence
Alongside BSOL, the Canary Litecoin ETF and Canary HBAR ETF also launched following adjustments in line with recent U.S. SEC guidance. The arrival of multiple crypto-linked ETFs indicates growing recognition of digital assets in regulated financial markets. The Grayscale Solana Trust (GSOL) also made its debut, further increasing exposure to Solana and reflecting the expanding footprint of blockchain assets in traditional portfolios.
Recent market data revealed a modest rise in Solana’s futures open interest, up 2.37% to $10.02 billion, highlighting a steady increase in leveraged positions. Additionally, technical indicators such as the MACD showed sustained positive momentum, with the MACD line moving above the signal line. The Chaikin Money Flow stood at 0.09, suggesting mild accumulation as inflows continue to support the current trend.
Analysts Eye $300 to $600 Range for Future Upside
Market analysts remain confident in Solana’s ability to maintain its upward trajectory. The token has found solid support near the $180 and $200 levels. A sustained move above the $250 resistance could open the path toward the $300 range in the short term. Some projections even suggest that if current momentum continues, Solana could approach $600 by the end of 2025, reinforcing its growing role within institutional investment strategies.
