Solana News: Why Is Solana (SOL) Price Up Today? ETF Hype and Derivatives Demand Fuel 9.5% Rally

Key Takeaways:

SOL price surged 9.5% to $157 amid rising ETF approval odds and strong futures market activity.

Polymarket odds for a spot Solana ETF approval jumped to 91%, up from 77.5% 10 days ago.

SOL open interest is up 22% in a month, while a bull flag pattern hints at a $315 upside target.

ETF Optimism Drives Solana Surge

Solana’s native token SOL rallied 9.5% on June 16, trading around $157, up from $144 the day before. The rally was largely driven by growing speculation over spot Solana ETF approval in the U.S.

Approval odds on Polymarket surged to 91%, while Bloomberg analysts now estimate a 90% chance of approval in 2025. This optimism follows the S-1 filings from seven major asset managers, including VanEck, Grayscale, Franklin Templeton, and Bitwise.