Bitcoin recorded a new all-time high of $126,200 this week, along with the BNB price reaching above $1350. Solana price followed the trend and the price briefly reached above $250, followed by a swift correction to the current levels of $227. The Solana price has failed to make an impression so far in the ongoing bull run, but the spot Solana ETF approval may change the game. However, the numbers other than price action are quite impressive and convincing, and hence bring in new investors.
Solana leads with ETP (Exchange Traded Products) volume. The $706 million inflow specifically refers to the record weekly inflows into Solana ETPs, significantly exceeding previous highs. Moreover, it is getting institutional funding from various investors prior to its ETF approval. The Total Value Locked (TVL) on Solana climbed 12% this week, nearing $13 billion. However, daily DEX volume slumped 9% this week, although Q3 DEX volume saw a 21% increase from Q2, reaching $365 billion, and that may be because the traders are moving their Solana to centralized exchanges to cash out profits.
With its $122 billion market cap and billions in trading volume, Solana is potentially the most promising altcoin. The Grayscale Solana Trust now supports staking, and a Nasdaq-listed company has accumulated a $530 million SOL treasury. These developments await ETF approval, which could catapult the price of Solana to new highs.
Solana ETF Approval:
The final deadline for spot Solana ETF approval in the US is approaching, with some deadlines for filings from major firms scheduled for October 10 and October 16, 2025. The optimism of the bulls is on point as regulatory trends are in favor of crypto. The odds of ETF approval for Solana are above 90% and even 100%, partly due to the SEC’s launch of generic listing standards for cryptocurrency-based ETFs.
Solana could have received the ETF approval a lot earlier, but due to the SEC’s declaration of Solana being a security, the ETF approvals were delayed. Once the ETFs are approved for Solmarket, it would open it to a new market, and we may see fresh inflows, pushing the price of Solana higher. But the question is, how high Solana price go if its ETF gets approved?
Solana Price after Spot Solana ETF Approval
Solana price surged 8.5% due to the ETF optimism rally last week. The retail buyers and investors all pushed Solana upwards. The current downturn in the price is due to profit-taking from the last bullish rally. Bitcoin price is under a massive correction, and that bearish wave is pulling down almost every altcoin, including SOL. The price of Solana is down over 12% since the last peak of $254, and it may further drop to $215, adding around 4% more to this before making its next move.
Solana’s price has been generally bullish since April 2025, moving inside a parallel channel. This means that there is a sustained and strong buying interest with good liquidity to push the price further.
The price dipped massively in late September, falling from a high near $250. However, it found solid support at a lower end of the channel and has since begun to recover, rising back toward the $222 mark.
The bulls are currently attempting to push the price higher within the channel. The price of Solana is fluctuating, creating price cycles of demand and supply within the channel. The last price cycle from August to September was 54% and the current move is likely to copy the same demand. If so happens, the price is expected to close at $304 in the post-ETF approval rally.
As long as the price remains within this upward-sloping channel, the bullish trend is likely to continue, with the potential to reach or even surpass previous highs. The bulls are likely to close their positions at $300, so the real challenge for Solana is to maintain the bullish rally despite heavy profit-taking at the top.
