Despite strong ETF launches from major asset managers, Solana’s price remains stuck under the $200 mark as traders question whether this is a “sell-the-news” event or just the calm before the next rally.
Solana ETF Launch Fails to Ignite Expected Rally
Solana (SOL) ETFs have officially launched in the U.S., marking a significant milestone for the blockchain network. Yet, despite this historic step, SOL continues to trade around $195, well below the ambitious $300–$1,000 targets that many investors had predicted ahead of the approval.
Earlier this week, two Solana spot ETFs debuted — the Bitwise Solana Staking ETF (BSOL) and the Grayscale Solana spot ETF (GSOL). BSOL opened with $222 million in assets under management and recorded $72 million in trading volume on its second day, impressing market observers who viewed the debut as a sign of healthy institutional demand.
Market Reaction Mirrors Ethereum’s ETF Launch
Analysts suggest that SOL’s muted response may resemble Ethereum’s price action following the launch of ETH spot ETFs earlier this year. According to analysts at Hyblock,
“BTC’s ETF launch and BTC price also had a similar relationship on launch. BTC trended flat and down despite growing inflows. Eventually, inflows spiked, which marked the bottom. SOL may be going through a similar cycle.”
The analysts also noted that timing with this week’s FOMC meeting has likely contributed to cautious behavior among institutional investors, saying,
“Many participants are de-risking ahead of the meeting. It’s expected behavior for high-profile events like these.”
Traders Watching Key Support and Resistance Levels
Current order book data shows strong support between $188 and $185, while resistance sits near $204 and $207. Despite heavy selling pressure, analysts remain optimistic that inflows into the new ETFs could eventually fuel a delayed rally.
The Solana ETFs’ strong debut indicates real institutional interest, but short-term price weakness appears to be part of a broader market pattern — one that could mirror Bitcoin’s and Ethereum’s ETF trajectories before their eventual breakouts.
If history repeats, SOL’s quiet phase below $200 may be setting the stage for its next major move.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.