The long-awaited Solana (SOL) ETF launched, sparking excitement in the cryptocurrency market. This week, Bitwise's Solana Staking ETF (BSOL) and Grayscale's SOL ETF (GSOL) debuted on U.S. exchanges, attracting investor attention.
The trading volume on the second day of BSOL exceeded $72 million, with net inflows surpassing $116 million. SOL ETFs hold over $430 million, 0.4% of the token's market value.
The price of Solana is low despite its record debut. After briefly exceeding $201, SOL fell below $195, continuing a post-launch pullback that has led traders to question whether the ETF hype is justified.
Building momentum for the SOL ETF albeit with market caution.
The volume and staking-enabled structure differentiate the Solana ETF from Bitwise, allowing institutional investors up to 7% annual dividends without DeFi mechanisms.
Bloomberg's ETF analyst, Eric Balchunas, rated the debut of BSOL as 'one of the strongest in 2025,' surpassing the Canary Litecoin and Hedera ETFs.
After removing the SEC's 'delay amendment' from its S-1 filing, Fidelity Digital Assets advanced its plans for the SOL ETF, allowing for automatic approval after 20 days.
Regulatory confidence in the asset classification of Solana is rising. This institutional momentum and planned listings from VanEck and 21Shares will eventually increase liquidity and open Solana to regular brokers, analysts say.
Macro considerations remain important. Hyblock Analytics stated that 'the excitement around the ETF coincides with the FOMC week, leading institutions to temporarily shed risks,' indicating that short-term weakness may disguise long-term accumulation patterns.
Can SOL break $200?
Technically, Solana is consolidating between $188 and $204, with resistance approaching $207. RSI values around neutral indicate hesitation.
A decisive hourly close above $200, supported by significant inflows into the SOL ETF, could lead to $225 or more, while a break below $188 threatens a support test at $180.
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