Solana Price Sees Significant Uptick Amid ETF Optimism and Treasury Bond Purchases
The Solana price has shown a notable recovery after a sharp decline last week, with the token now trading slightly above $205, representing a 6.6% increase in the last 24 hours. This surge in price comes as the cryptocurrency market anticipates the potential approval of Solana exchange-traded funds (ETFs) and sees an increase in corporate treasury offers for SOL, with total participation now exceeding 20 million.
VanEck, a prominent asset manager, has recently updated its filing for the Solana Staking ETF, proposing a fee of 0.30%. This move has heightened optimism regarding possible approval, with the first SEC decision due by October 16, 2025. Several other spot applications for Solana ETFs are also under consideration, including proposals from Bitwise, Fidelity, Franklin Templeton, CoinShares, Grayscale, and VanEck. The growing interest in Solana ETFs is a significant factor contributing to the current bullish sentiment surrounding SOL.
Institutional Interest and Treasury Bonds
The increasing institutional interest in SOL is further fueled by recent large acquisitions of the token. Solana financial firm Solmate has announced a $50 million direct acquisition of SOL, building on its strategy unveiled in early September. This purchase follows several other significant acquisitions by various companies in recent months, underscoring SOL’s growing presence on global balance sheets. Currently, Solana’s digital asset treasury companies (DATs) hold a total of 20.12 million SOL, representing 3.5% of the total supply.
Forward Industries leads with 6.822 million SOL, followed by Solana Company with 2.2 million SOL. Other firms, including Sharps Technology, DeFi Development Corp., and Upexi, also hold over 2 million SOL each, while around 15 others hold more modest amounts as adoption continues to increase. Several of these companies have committed to long-term accumulation strategies, a move that could significantly support price stability and increase investor confidence in the asset.
Technical Analysis and Future Outlook
From a technical standpoint, Solana’s Relative Strength Index (RSI) has climbed to 46.82, just below the neutral 50 level, indicating improving momentum. The Chaikin Money Flow (CMF) shows a healthy reading of +0.23, indicating capital inflows despite weak trading volumes. For a confirmed trend reversal, Solana price needs to close above $210 and reclaim the $220-$225 range. Until then, the current rally could be more of a short-term recovery rally than an outright bullish move.
Solana price chart | Source: crypto.news
As the market continues to evolve, the future of Solana and its potential for growth will depend on various factors, including regulatory decisions, institutional investment, and the overall health of the cryptocurrency market. For the most up-to-date information and analysis, visit https://crypto.news/solana-price-steadies-above-205-as-etf-and-treasury/
