- The Solana price rebounded from the bottom trendline of a long-term channel pattern.
- VanEck has submitted an updated registration for its proposed Solana Staking ETF, outlining a new fee structure and custodian framework.
- SOL’s daily chart highlights key resistance at $218 and $248
On Tuesday, October 14th, the crypto market witnessed a surge in selling pressure as Bitcoin’s price showcased overhead supply pressure at $115,000. A majority of major altcoins, including Solana, witnessed a similar drop, creating concern for a continued correction in the broader crypto market. That said, the Solana price showed its resilience above the $200 floor as market speculation on a spot ETF launch continues to bolster demand. Will the SOL coin rebound?
VanEck Refines Solana Staking ETF Terms
During Tuesday’s U.S. market hours, the Solana price plunged nearly 10% to reach a low $191.03 before rebounding sharply. The sellers could hold this level as the active speculation around spot SOL ETFs continues to bolster price demand pressure. Thus, the SOL coin shows a long-tailed rejection candle, showcasing price sustainability above the $200 mark.
VanEck Asset Management has submitted an updated filing for its Solana Staking ETF, which makes several changes to key provisions regarding custody and fee structure while the product remains under review. The updated filing provides for a management fee of 0.30% to be charged, another 0.28% under the condition of assets delegated to the staking service through the designated validator, SOL Strategies.
Custody arrangements will be divided among two major crypto service providers. Gemini Trust Company will be the primary custodian of the ETF’s underlying SOL holdings while Coinbase Custody Trust Company is listed as a secondary custodian. The dual-custody model seems to be aimed at spreading out counterparty exposure for the staked and liquid assets held within the fund.
The proposed product would enable investors to get regulated exposure to Solana while being able to capture staking rewards generated by participating in the network.
Bloomberg ETF analyst James Seyffart commented on the amended filing, highlighting that the product is a Generic Listing Standards (GLS) product, which means there is no specific deadline to review. He also said that with the SEC being largely idle during the shutdown, there’s no telling when any progress may happen.
In another tweet, Eric Balchunas described the Solana ETF’s fee structure as “clear and reasonable,” adding that a 30-basis-point management fee and 28-basis-point staking charge could make the product appealing compared to other crypto-based funds and intermediaries.
While VanEck’s filing provides one of the most detailed examples yet on how staking could be incorporated into a U.S.-listed ETF, the proposal has to wait for federal agencies to resume normal review functions. Until then, the filing stays one of a number of pending digital asset merchandise awaiting SEC.
Solana Price Rebounds Within Channel Pattern
In the last three days, the Solana price showed a brief rebound from $173 to the current trading price of $201, accounting for a 16.31% jump. While the buying pressure followed the general relief rally in the crypto market, the SOL coin reversal is positioned at the bottom trendline of a rising channel pattern.
Since March 2025, the coin has been actively resonating within the two parallel trend lines, accentuating the influence of the pattern on the asset’s price action. The recent history of this pattern shows that a bullish rebound from the bottom trendline has often recouped the bullish momentum and driven a rally extended 65-90%.
Thus, with sustained buying, the Solana price could jump another 36% before hitting a major resistance at the channel’s upper boundary around the $273 mark.
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