Solana (SOL) ETF Frenzy Ignites: Is a $350 Price Explosion Next?

Wall Street's latest crypto crush just went nuclear. Solana ETF filings hit critical mass this week—and the market's betting big on a chain once left for dead.

The ETF effect: More than hype?

Traders are piling into SOL like it's 2021 again. With Bitcoin and Ethereum ETFs now old news, hungry institutions need their next fix. Cue the 'SOL to $350' chatter across trading desks.

Speed meets speculation

Solana's tech always delivered blistering speeds. Now it's delivering something Wall Street loves more: a narrative. The 'Ethereum killer' tag gets dusted off every bull run—but this time, the suits might actually believe it.

The cynical take

Nothing makes hedge funds FOMO harder than an asset they previously ignored. Remember when SOL was a 'failed experiment' during the FTX collapse? Funny how nine-figure inflows change the story.

One thing's certain: When ETF printers start humming, rational price targets go out the window. Buckle up.

• SOL solidifies at $150–$170 as the market turns bearish, but the structure remains intact. 
• ETF filings made by Grayscale, Fidelity, and other entities bolster institutional conviction in Solana. 
• Volume increases and declining open interest indicate accumulation and the potential breakout of $350.

Solana (SOL) price is consolidating in a downward direction and experiencing a bearish phase with the overall market. The SOL price over the last 24 hours is down by 8.19%, and over the last week it is also down by 7.7%.

SOL is currently trading at $167.59 with a 24-hour trading volume of $7.36 billion, significantly up by 26.44% over the last 24 hours. The coin has a market capitalization of $90.03 billion, which is also up by 8.25%.

The general market has now turned bearish as BTC started its downward motion to retest its previous ATH around $112,000. The overall market is badly affected by this sharp decline in price, including altcoins like SOL.

Solana Gains Institutional Traction With ETF Surge

A prominent crypto analyst, Wise Advice, highlighted that the demand for a solana ETF is gathering pace as institutional titans Franklin Templeton, Fidelity, Grayscale, Bitwise, VanEck, Canary Capital, and CoinShares submit amended S-1 forms with the SEC.

Unlike shelf filings on the passive side, amended filings signify active discussion with regulators, hinting at rising institutional Optimism on the coin. Grayscale’s filing documents, in particular, a 2.5% fee paid in SOL, while CoinShares has also submitted a Solana Staking ETF proposal in Delaware, a sign of enhanced interest in SOL’s staking economy.

SOLANA ETF MOMENTUM BUILDS

A wave of amended S-1 filings just hit the SEC, signaling serious intent from TradFi giants:

• Franklin Templeton
• Fidelity
• Grayscale (2.5% fee, paid in $SOL)
• Bitwise
• VanEck
• Canary Capital
• CoinShares (also filed a Solana Staking… pic.twitter.com/wxjAvZUs35

This wave of filings is more than speculation; it’s an institutional action to obtain regulated access to Solana. With traditional finance gaining interest, a Solana ETF would unlock huge capital inflows, increase market liquidity, and further harden SOL as a proper counterpart to Bitcoin and ethereum in institutional holdings.

Solana Signals Bullish Setup With $350 in Sight

Technically, SOL is above its 20 and 50 EMAs, confirming the medium-term bullish setup. The RSI is at 54.73, showing neutral momentum, while the MACD shows a bearish crossover with a histogram of -4.74, showing a loss of momentum in the short term. The long-term structure is healthy, with higher lows and a tightening price structure looking for a breakout soon. 

The $145–$150 is good support, serving as a decent floor beneath resistance. A break and close through resistance at $180 WOULD set an upside goal of $250–$300 in Q4 2025, with aggressively bullish momentum as high as $350+. These targets correspond with pre-FTX breakdown points and long-term Fibonacci extensions. 

Solana Derivatives Signal Accumulation as Volume Surges

Derivatives data confirms the episode of accumulation. The volume increases 27.46% to $28.59 billion, while the open interest falls 7.69% to $9.89 billion, indicating the transition away from Leveraged speculation into spot accumulation. 

A positive funding rate (+0.0047%) is indicating bullishness within derivatives markets but not overcrowded longs. Such positioning is usual prior to primary breakout movements as weak hands exit and intelligent money accumulates.

Also Read: Solana August Prediction: What Happens If It Breaks $200?