The past week has witnessed new developments related to the emergence of traditional US financial markets, as several entities launched Solana Spot ETFs, sparking a wave of optimism over expectations for the price of Solana coin (Solana).
VanEck’s VSOL, Fidelity’s FSOL, 21Shares’ TSOL, and finally Canary Capital’s SOLC have joined the list of institutional ETFs, expanding regulated access to financial institutions to include one of the most important altcoins.
The launch of these funds will not only facilitate accessibility, but also represent another step towards mass adoption, with Fidelity becoming the first traditional asset manager outside of the digital assets sector to offer a Solana-linked investment product.
The launch stage of the funds follows the successes achieved by the two leading companies, Bitwise and Grayscale, through their BSOL and GSOL funds, as neither of them has yet recorded a single day of net investment outflow despite the overall faltering performance of the market.
In total, Solana Spot ETFs have received more than $2 billion in net investment, as companies race to respond to growing interest in investing in digital assets beyond Bitcoin.
However, Kanny Lee, CEO of SecondSwap, warned in an interview with Decrypt that this strong demand could be misleading, and he attributed it to the recent mortgage yields added to these funds, pointing out that the “real indicator” will emerge early next year if these ETFs maintain their levels of investment receipt after the initial hype has died down, which is considered the true test of intentions to hold them for the long term.
Given that the launch of Bitcoin Spot ETFs spurred the Bitcoin price to reach its highest levels in early 2024, Solana’s price could follow a similar path that could extend at least until 2026 with the growing adoption of these funds.
Solana Coin Price Forecast: Can its price repeat the tenfold trajectory seen by the launch of Bitcoin Spot ETFs?
Solana price is expected to repeat the strong rise achieved by Bitcoin in 2024 thanks to the launch of its ETFs, and this is confirmed by its recent strong rebound from the minimum support level of the symmetrical triangle pattern that expanded a year ago.
As momentum indicators trend higher, hopes for a price breakout are renewed, as the Relative Strength Index (RSI) has recently rebounded from the oversold range and both MACD lines are about to form a golden cross, both indicating a stable increase in buying pressures.
If the momentum continues to build, Solana price could be retested and eventually break through the main resistance zone at $205, at which point it could continue its surge to reclaim its all-time high (ATH) at $300.
As Solana Spot ETFs continue to receive additional investment on a stable and sustained basis, a sustained upward trajectory may allow the price to reach higher price targets. As the bull market intensifies, a move towards $1,500 could become possible, which would represent a doubling of the price to around 10 times its current levels.
However, a bearish scenario remains possible if price movements are subject to the general market sentiment towards ETF products, particularly if the price fails to make a decisive breakthrough, which will expose the Solana coin price to a 30% correction to retest the $95 support level.
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The article Solana Coin Price Expectations (Solana-SOL) With the launch of its US exchange-traded funds (SOL ETF), can it repeat the path of Bitcoin-BTC multiplying 10 times after the launch of similar products? appeared first on Cryptonews Arabic.
