Solana’s native token, SOL, is back in the spotlight after the debut of the first U.S.-based Solana exchange-traded fund (ETF). The launch of the Bitwise Solana Staking ETF on the New York Stock Exchange has reignited bullish sentiment across the crypto market, with some analysts predicting that SOL could soar beyond $400 in the coming months.
Bitwise Solana ETF Debuts on NYSE
Bitwise Asset Management has officially launched its Solana Staking ETF under the ticker symbol BSOL. This ETF offers investors direct exposure to SOL with built-in staking features that deliver approximately 7% annual yields through network rewards. It is the first Solana-focused ETF approved for trading in the United States, marking a new chapter for institutional participation in the Solana ecosystem.
Bloomberg ETF analyst Eric Balchunas confirmed that BSOL is now live on the NYSE. He also noted that Grayscale’s Solana Trust (GSOL) will convert to a spot ETF on October 29, offering another regulated route for investors seeking exposure to Solana’s price action and staking rewards.
Crypto analyst Bitcoinsensus called the launch a “major milestone” for both Solana and the broader altcoin ETF market, emphasizing that the ETF’s staking component provides a unique advantage over traditional crypto funds.
Institutional Momentum Builds
The launch comes amid growing demand for crypto investment products despite recent delays in ETF approvals caused by the October 1 federal government shutdown. Bitwise’s green light from the U.S. Securities and Exchange Commission signals renewed progress in crypto regulation and investor access.
Analysts expect significant inflows into the Solana ETF, similar to what was seen with the REX-Osprey Solana Staking ETF (SSK), which debuted in June with over $12 million in first-day volume. Investment bank JPMorgan estimates that a Solana ETF could attract between $3 billion and $6 billion in its first year, based on early adoption trends from Bitcoin and Ether ETFs.
SOL Price Recovers Ahead of ETF Launch
SOL traded at $203 on Tuesday, marking a 14% jump from its recent low of $177 on October 22. The rally reflects increasing optimism around the ETF launch and growing mainstream adoption of Solana. The token’s resilience has positioned it as one of the strongest performers among major altcoins this month.
Traders and analysts alike believe this could be the start of a larger breakout. Technical indicators suggest that the current move may only be the beginning of a sustained bullish phase, driven by institutional inflows and improved on-chain activity.
Bull Flag Pattern Points to $400 Target
On the technical side, Solana’s price pattern has formed a bull flag on the weekly chart, a setup that often precedes large upward moves. The pattern signals a potential breakout above $205, which could propel SOL toward $412, a gain of roughly 104% from current levels.
The Relative Strength Index (RSI), a key momentum indicator, has also climbed from 34 in mid-June to 53 this week, suggesting strengthening buying pressure. Analysts note that RSI crossing above the midpoint often indicates a shift toward bullish dominance.
Crypto trader BitBull reinforced this outlook, pointing out that SOL continues to hold its three-year support trendline. “A weekly close above $280 would trigger a massive rally,” he said, predicting that $400–$500 is achievable in the current cycle.
Outlook: Momentum Favors the Bulls
If SOL successfully breaks above the $205 resistance level, it could open the path toward $260 and eventually the $400–$412 range. The combination of technical strength, institutional inflows, and new ETF exposure places Solana in a strong position for further gains.
While volatility remains a factor in the broader crypto market, Solana’s latest ETF milestone may prove to be a defining catalyst for both the network and its token’s valuation. As institutional investors step into the market through regulated Solana products, the network’s long-term outlook appears more promising than ever.
