Following the launch of the first Solana (SOL) Exchange-Traded Funds (ETFs) in the US, Bybit analysts believe the cryptocurrency could enter a multi-quarter rally fueled by institutional demand.
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Solana ETF Era Will ‘Reshape’ Price Trajectory
Friday is crypto exchange Bybit discussed the potential impact of the recently launched Bitwise Solana Staking ETF (BSOL) and Grayscale Solana Trust ETF (GSOL) on the altcoin’s long-term story and performance.
In its Crypto Insights Report, the exchange noted that the altcoin joined Bitcoin (BTC) and Ethereum (ETH) as among the digital assets with regulated access to brokers in the US, marking a major milestone that “could reshape the price trajectory and market structure for years to come.”
The report highlighted that SOL’s performance is likely to benefit from the global expansion of SOL-focused products. It is notable that Hong Kong also approved and launched China Asset Management’s first Solana Spot ETF at the end of October. Meanwhile, Brazil and Canada also host Solana ETFs, which “create a multi-jurisdictional framework that improves global liquidity and price discovery.”
Nevertheless, the crypto exchange believes the most significant impact is “the narrative shift they catalyze” as the cryptocurrency “is no longer just a high-beta altcoin favored by retail traders – it is now a regulated, yield-bearing asset with institutional access and global distribution.”
This rebranding aligns with Solana’s technical evolution, as its role in powering tokenized treasuries, real-world assets, and permissioned stablecoin issuance makes it a foundational layer for the next generation of financial infrastructure.
The exchange argued that Solana could transition from a speculative asset to providing a strategic allocation in diversified portfolios as macro conditions stabilize and ETF inflows increase.
SOL ‘On the eve of a multi-quarter rally’
According to Farside Investors’ factsThe SOL-based investment products have recorded inflows of more than $300 million since their launch last week, signaling strong institutional demand for the Solana ETFs.
However, the altcoin’s price fell about 8% during the ETF’s first week of trading. Additionally, SOL’s price has fallen nearly 20% from the weekly time frame, hitting a four-month low of $144 earlier this week.
Despite the short-term volatility, Bybit affirmed that the ETF listings “represent a structural shift in the way SOL is approached, traded and perceived, dramatically expanding SOL’s investor base.
The report highlighted that the subdued response is a reflection of the sell-the-news dynamics seen in BTC and ETH’s ETF approvals. Both cryptocurrencies experienced short-term corrections after the launch of their respective spot ETFs, before recovering from continued inflows.
“Solana may follow a similar pattern, where early profit-taking and whale rotation – such as the large transfer of Jump Cryptos on-chain – temporarily suppresses upside momentum,” Bybit confirmed.
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The report pointed to Bitwise’s estimate that every $1 billion in ETF inflows could lead to a 30%-50% increase in SOL’s market cap. As a result, if inflows reach $2-3 billion in the coming year, the cryptocurrency could return to its all-time high (ATH), even rising to $300-$350.
“If historical patterns hold, Solana could be on the cusp of a multi-quarter rally that redefines its position in the crypto hierarchy,” the exchange concluded.
At the time of writing, Solana is trading at $154, down 1% in the daily time frame.
Featured image from Unsplash.com, chart from TradingView.com