The potential approval of a Solana staking ETF in the US is becoming the center of attention, opening the door for significant institutional capital inflows into the ecosystem.
Combined with the fact that major “treasuries” are holding tens of millions of SOL and technical signals continue to sustain an uptrend, Solana stands on the verge of a new breakout cycle, potentially surpassing the $300 mark in the mid-term.
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SOL ETF Expectations
As October approaches, the crypto market’s spotlight shifts toward Solana (SOL) and several other altcoins. Analyst Nate Geraci suggested that the US Securities and Exchange Commission (SEC) will likely approve several Solana staking ETF filings. This would allow institutional investors to access Solana’s staking yields through a transparent and legally secure channel.
If this scenario materializes, Solana could replicate the effect that Ethereum experienced when spot ETFs and staking-related products were approved. As institutional money flows in, the circulating supply on the spot market will decline, creating natural upward price pressure while strengthening Solana’s position in the portfolios of larger funds.
Alongside the ETF outlook, Solana is already attracting significant institutional capital. Forward Industries is currently the largest Solana treasury holder with over 6.8 million SOL, worth around $1.4 billion. Moreover, the total SOL held by treasury companies has exceeded 20.9 million, accounting for roughly 3.64% of the total supply.
Amount of Solana held by treasury companies. Source: TedThese figures clearly reflect the strategic confidence that major institutions have in Solana. In the context of a potential staking ETF, the existing concentration of SOL in institutional hands could serve as a powerful catalyst, accelerating the inflow of new capital into the ecosystem.
Technical Analysis: Uptrend Still Intact
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From a technical perspective, although SOL recently broke below the $200 level as BeInCrypto reported, many traders argue that the uptrend structure remains intact. The pullback may be a retest of the lower boundary of the parallel channel uptrend.
SOL in parallel channel uptrend. Source: NekoZAnother analyst observed that SOL is holding its ascending support. Based on this, he forecasted $300 as the next logical target, suggesting that current dips offer attractive buying opportunities.
Other analysts pointed out on the weekly chart that the market may be in the final phase of Wyckoff accumulation. The latest correction could represent the “last big dip” before a strong rally in Q4.
Although SOL has entered the “oversold” zone as BeInCrypto highlighted, experts remain optimistic about its medium-term trajectory. Of course, caution remains warranted. As BeInCrypto noted, Solana’s on-chain activity slowed in September, threatening to break its four-year streak of “winning Septembers.”
At the time of writing, BeInCrypto data shows SOL is trading at $210.21, up 4.2% over the past 24 hours.
Source: https://beincrypto.com/solana-etf-hype-builds-could-institutional-inflows-push-sol-to-300/
