Solana ETF Frenzy Heats Up While Bubble Charts Lose Steam

Wall Street''s latest crypto crush is getting the ETF treatment—just as retail traders start eyeing the exits.

Solana ETF mania reaches fever pitch

Asset managers are racing to capitalize on Solana''s institutional momentum, filing paperwork faster than a degenerate trader chasing a 100x leverage position. The blockchain''s speed and scaling solutions have finally caught Wall Street''s attention—right on schedule for the next cycle of ''this time it''s different'' narratives.

Bubble maps show cooling sentiment

Meanwhile, the colorful bubble charts that dominated crypto Twitter during the last bull run are deflating faster than a Bitcoin maximalist''s ego during an altseason. Retail interest metrics suggest traders might finally be learning that ''buy high, sell low'' isn''t actually a viable strategy—though we''ve said that before.

As always in crypto, the real money will be made by the intermediaries—whether that''s ETF issuers collecting management fees or exchanges raking in liquidations when the inevitable volatility hits.

Now, here’s where things get interesting. While cooling often signals a slowdown, in this case, it might mean something else entirely. Neutral or “cooling” phases are often associated with strategic accumulation, when smart money starts to quietly load up on assets before a larger move. That’s the perspective some traders are beginning to adopt as Solana holds above $165.

Adding fuel to the bullish fire is talk of a potential Solana exchange-traded fund (ETF) coming to market. In a post on X, Bloomberg analyst Eric Balchunas floated the possibility of Solana leading what he dubbed an “altcoin ETF summer.” 

Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7

If the U.S. Securities and Exchange Commission gives the green light, Solana could become one of the first major altcoins with a spot ETF on the U.S. market.

This isn’t just market gossip. Prediction market Polymarket currently shows a 91% probability of a Solana ETF being approved sometime in 2025. That figure has been steadily rising and is now the highest it’s been all year. Some speculators even believe the ETF could go live as soon as July.

Technicals are also looking promising. crypto analyst Ali Martinez recently pointed out a classic Cup and Handle formation on Solana’s weekly chart. 

According to Martinez, a confirmed breakout above the $200 resistance zone could potentially trigger a sharp rally, possibly even pushing prices toward $1,000 or higher. 

While that may sound overly optimistic to some, it’s worth noting that Solana previously ran from under $30 to nearly $300 in less than a year during its last bull cycle.

But not all signs point straight up. On-chain data has flagged large movements from dormant wallets, old Solana addresses that hadn’t moved in a long time, suddenly transferring funds. 

That’s sometimes a sign that long-term holders are getting ready to sell. If that turns out to be true, it could introduce short-term selling pressure just as momentum is building.

Still, sentiment in the community remains upbeat. There’s a growing belief that Solana could not only retest but break above its previous all-time high of $293 if the ETF narrative plays out and technicals hold. 

At the time of writing, SOL trades around $159, inching closer to that key $200 resistance level. The market cap currently values at $83.89 billion and 24-hour trading volume, valued at $4.49 billion, dropping 20.90%.

In short, Solana isn’t exploding, not yet, but enough early signals are flashing across charts, exchange data, and regulatory discussions to suggest something could be brewing. If the stars align, this summer could turn into Solana’s biggest season yet.

Also Read: Bitcoin Could Explode to $200K as US Debt Soars: Bitwise