Key Takeaways
- Solana’s price gains bullish momentum ahead of its spot ETF approval in the U.S. SEC.
- GRS insight regarding Solana spot ETF hype suggests a potential price rally of over 8.9x based on the prediction.
- Solana’s price closes its monthly candle above the $120 support level, indicating bullish strength to the upside.
Solana (SOL) price has gained much price rally in the last few days following a strong fundamental new of its spot ETF (Exchange-traded Funds) approval almost 90% done as this has sparked much price optimism for crypto traders and investors looking to leverage on one of the high performing layer-1 project and a huge contributor of liquidity to the DeFi (Decentralized finance) space.
It is no longer a new story that multiple asset managers, such as VanEck, 21Shares, Fidelity, Canary Capital, and others, have all filed S-1 forms with the U.S. SEC (Securities and Exchange Commission) for the approval of a Solana spot ETF, with VanEck and 21Shares leading this charge as far back as 2024.
Solana’s ETF Almost Ready For Launch
This Solana ETF approval also presents opportunities for investors and traders to explore its staking options, offering yields of up to 5%. Following such a proposal, REXShare on its official X account announced the first-ever Solana staking ETFs coming to the U.S.
According to REXShares, the REX-Osprey SOL and staking ETF is designed to track the performance of Solana while generating yield through on-chain staking and is set to be launched soon. This Solana spot staking ETF, according to REXShare, will help achieve the following:
- SOL exposure
- Staking rewards
While many platforms and expert analysts believe the spot Solana ETF approval is 90% complete, with the likes of Polymarket suggesting the approval by the SEC is over 91% complete, strong speculation hints that approval may be announced before July 31st.
Additionally, GRS’s insight on the approval of the Solana spot ETF could lead to strong market dominance by Solana’s price, with speculation suggesting a potential 8.9X price rally for Solana, which could see the price hit a region of $1,000 based on speculation of a Solana price prediction before the end of 2025.
Solana’s price expectation surrounding the current ETF hype has created a strong market sentiment, as the price is likely to remain strong above $100, with a strong price likely to create new all-time highs soon.
Solana (SOL) Price Prediction For July
Source – Solana (SOL) 1D Price Chart from TradingView
Solana’s price has gained strong momentum in the last few days, rallying from a region of $132 following a market crash due to uncertainties. However, the price has responded strongly, trading above the key zone of $120.
With the price of Solana (SOL) closing the monthly chart above $120, it suggests the price remains bullish in the long term. The news of ETF approval could spark a rally to a high of $200, acting as resistance for the price.
Finally, a strong narrative of the Solana ETF, a growing DeFi ecosystem, could catalyze the price to reach a high of $500 and $1,000, respectively, as Solana price predictions suggest that the price is undervalued. However, a short-term price speculation for July could see the price trading above $350 if it breaks above its previous highs of $295.