A number of crypto experts believe that the first exchange-traded funds (ETFs) based on Solana could be approved soon, leading to a rapid increase in $SOL .
The return of SOL over the past two and a half years has been astronomical, although the token fell below $10 after the FTX collapse in 2022. Since then, the price of SOL has increased by approximately 2000%.
Analysts noted that seven asset managers took another step towards launching Solana exchange-traded funds (ETFs) in the U.S. On August 1, organizations Bitwise, Fidelity, Grayscale, Franklin Templeton, VanEck, Canary Capital, and CoinShares submitted amended registration statements on Form S-1 to the U.S. Securities and Exchange Commission (SEC).
Generally, amended Form S-1s indicate progress made by issuers and regulators. The SEC typically responds to amended Form S-1s within two to four weeks. Until then, the price of SOL is likely to be volatile. Over the past 30 days, the token has gained 9%, showing fluctuations throughout this period.
Analysts consider August to be an important month for cryptocurrencies in 2025, capable of leading to a sharp rise in prices. The debut of the ETF on SOL will certainly mark the beginning of this process.
On the daily chart, Solana SOL broke through the top of an ascending triangle, a structure that has been forming since March, and is now re-testing the breakout zone. Crypto analyst Jonathan Carter pointed to this area as a possible support level:
A successful rebound could confirm a bullish breakout and direct the price towards target levels of $205, $225, and $268.#solana 