Kraken Report: Solana’s Potential Surge to $500 Driven by ETF Hopes and RWA Tokenization

Solana (SOL) is poised for a significant price rally, with analysts projecting a potential rise to $500 by 2026. Currently trading at $180, SOL would need to nearly triple in value to hit this target. Key drivers behind this optimistic outlook include the anticipated approval of a U.S. spot solana ETF, which industry experts believe could receive SEC approval by 2026, following similar approvals for other cryptocurrencies in 2025. Additionally, the growing trend of real-world asset (RWA) tokenization on the Solana blockchain is fueling further optimism. Early momentum suggests that these catalysts could propel SOL to new heights, making it a standout asset in the crypto market.

Solana's Path to $500: ETF Hopes and RWA Tokenization Fuel Optimism

Solana (SOL) faces a steep climb to reach $500 by 2026, requiring a near-tripling of its current $180 price. Yet, a confluence of catalysts suggests the ambitious target isn't out of reach. The potential approval of a U.S. spot Solana ETF stands as the most significant driver, with industry analysts anticipating SEC greenlighting by 2026 following similar 2025 approvals for other cryptocurrencies. Early momentum is already visible—Solana futures ETFs attracted $78 million in net inflows within a month of launch.

Beyond speculative instruments, real-world asset (RWA) tokenization is gaining traction on Solana's blockchain, drawing institutional capital. Kraken and Backed recently listed the first tokenized assets on the network, signaling growing infrastructure for tangible asset digitization. The combination of regulatory tailwinds and utility expansion creates a compelling narrative for SOL's valuation.

Major Crypto Fundraising Events in July 2025

July 2025 witnessed a surge in cryptocurrency fundraising, with Mill City Ventures III leading the pack by securing $450 million from heavyweight investors including Pantera Capital and Electric Capital. The month also saw FG Nexus and Mercury Fintech each raising $200 million, backed by Galaxy Digital and Solana Ventures respectively.

Upexi joined the fray with a $150 million round supported by Big Brain Holdings, while Polymarket's $112 million investment in QCEX signaled growing confidence in crypto exchanges. Boba Network and Agora rounded out the notable deals, raising $70 million and $50 million with support from Paradigm and Dragonfly among others.

Emerging blockchain initiatives continued to attract strategic backing, with Coinbase Ventures and Polychain Capital supporting Billions Network. The flurry of activity underscores institutional confidence in crypto's long-term viability.