Solana ETFs Debut in the US Market: Will SOL Reach $200?
The cryptocurrency community is abuzz with excitement as two Solana ETFs have made their debut in the US market. The launch of these exchange-traded funds has sparked renewed interest in the token, with many investors wondering if it will reach the $200 mark. According to recent data, the Bitwise Solana Staking ETF has dominated early market activity, with net inflows of over $116 million, accounting for more than 90% of total Solana ETF investments.
The Bitwise Solana Staking ETF made history as the first Solana ETF to be approved for listing on the New York Stock Exchange. Within the first 30 minutes of listing, the Solana-backed fund had already generated around $10 million in trading volume, indicating growing investor interest. Meanwhile, Grayscale’s Solana (SOL) ETF, which launched a day after Bitwise’s Solana ETF, has generated around $1.40 million in net inflows since its launch.
Solana ETFs have accumulated a total net assets of $432.3 million in the last two days, with the combined net inflows of both funds reaching $117.4 million. The Solana ETF trading volume was $79.5 million, just $500,000 shy of $80 million. Overall, Solana ETFs account for approximately 0.40% of the token’s total market cap, with total net assets standing at $432.29 million.
Technical Analysis: Can Solana Breakout Above $200?
Despite minor declines, the token is currently trending in the market, which may be due to the hype surrounding the launch of Solana ETFs. Within the last 24 hours, the token managed to reach a daily high of $201.42, but the breakout was short-lived as the token fell back below the $200 mark. The 30-period moving average is around $195.82 and acts as a short-term pivot that reflects indecision between buyers and sellers.
The launch of Solana ETFs has sparked new institutional interest and helped SOL regain momentum above $190 after brief corrections. However, price action shows that investors are still digesting this development, and volume and volatility are easing slightly after the initial hype. This consolidation phase could be interpreted as the market building a new support base before attempting another breakout towards the psychological $200 level.
To sustain the bullish momentum, Solana would need to maintain stability above the $193-$195 range. A strong hourly close above $198-200, ideally with an increase in trading volume, would likely confirm a new increase towards the $210-225 zone. However, if SOL fails to hold current support, it could see a short-term decline towards the $185-$188 area, where previous demand has historically re-entered the market.
ETF inflows and growing confidence in the Solana ecosystem could serve as fundamental catalysts for a sustained rise above the $200 level. If institutional participation continues to increase alongside improving technical structure, SOL could turn this consolidation into a launching pad for a more decisive breakthrough. For more information, visit https://crypto.news/solana-etfs-live-now-wheres-the-200-solana-price-breakout/
Disclosure: This article does not constitute investment advice. The content and materials presented on this site are for educational purposes only.
