Key Highlights
- On Sept 10, SOL surged to $224.32 with an over 3% hike
- The expert believes that SOL could hit $295 to retrace full move
Solana, the sixth biggest cryptocurrency, has soared to $224.32 with a 3.37% hike in the daily chart, according to CoinMarketCap.
Solana Price Analysis
According to Donald Dean, Solana has decisively broken through key resistance levels, with its current price climbing steadily as bullish momentum builds.
$SOL $SOLUSD Solana – Breakout, First Target Hit
Next Price Target: $295
Current price is edging higher above resistance. Potential to retest the $205 area at the volume shelf, but overall trend is higher.
Next target is $295 to retrace full move and challenge January highs.… https://t.co/1iAPqdFIS6 pic.twitter.com/Jw3FxjhZJY
— Donald Dean (@donaldjdean) September 10, 2025
Analysts are now setting a short-term target of $295. This pattern shows that it would see it retrace its full previous upward movement and challenge its January highs. However, a brief retest of the $205 support area remains possible if profit-taking emerges.
“Next target is $295 to retrace full move and challenge January highs,” Donald Dean stated in a post on X.
Solana ETF Approval Is Nearing
The likelihood of Solana exchange-traded funds (ETFs) securing approval from the U.S. The Securities and Exchange Commission (SEC) is rapidly increasing, with industry analysts now projecting a 90–95% probability of success in the upcoming month.
This surge in optimism is fueled by a wave of filings and amended applications from major asset managers such as VanEck, 21Shares, Bitwise, Grayscale, Canary Capital, Franklin Templeton, and Fidelity, all of whom have submitted or updated S-1 and 19b-4 forms in active collaboration with regulators.
These efforts, which began in June 2024, are focused on creating regulated investment vehicles that provide exposure to Solana (SOL), a blockchain renowned for its high throughput and low transaction fees, solidifying its status as a leading competitor to Ethereum.
VanEck initiated the movement with its Solana Trust filing in June 2024, swiftly followed by 21Shares’ Core Solana ETF application, both seeking listing on the Cboe BZX Exchange.
Bitwise entered the race in November 2024, while Grayscale is working to convert its existing $134 million Solana Trust (GSOL) into a spot ETF by October 2025. More recent filings from Franklin Templeton and Fidelity in March 2025 include provisions for staking, which could enable these ETFs to generate additional yield for investors.
Though the SEC’s stance on staking remains uncertain due to ongoing regulatory hesitations, Canary Capital and CoinShares further updated their filings in August 2025, introducing cash and in-kind redemption mechanisms designed to meet regulatory expectations.
Bloomberg analysts Eric Balchunas and James Seyffart have observed a “positive back and forth” between issuers and the SEC, with revised filings indicating that approvals could arrive as early as July 2025, though the final deadline for certain applications falls between October 11–16, 2025.
This regulatory momentum is supported by a more crypto-accommodating approach under SEC leadership and the introduction of Solana futures trading by Coinbase in 2025. Market experts anticipate that Solana ETFs could draw approximately $8 billion in inflows, highlighting substantial institutional confidence in Solana’s scalable and efficient blockchain technology.
Positive News for ETFs With Staking Function
Solana’s staking ecosystem has received a major regulatory boost after the U.S. Securities and Exchange Commission (SEC) issued a pivotal statement on August 5, 2025, clarifying that liquid staking activities, including those on Solana, do not qualify as securities offerings as long as the underlying assets are not structured as investment contracts.
This decision has provided long-awaited clarity and confidence to the Solana community, particularly benefiting liquid staking tokens (LSTs), such as stSOL, which enable users to stake their SOL holdings while maintaining liquidity through tradable receipt tokens.
By exempting liquid staking providers such as Jito Labs from securities regulations, the SEC has effectively encouraged further innovation and paved the way for broader institutional adoption.
Solana’s staking framework, which already supports over $60 billion in staked value, stands to gain significantly from this regulatory certainty. Investors can stake SOL through established custodians like Coinbase Custody and earn annual rewards typically ranging from 5% to 8%, distributed either as additional tokens or cash.
Proposed Solana ETFs from leading asset managers including VanEck and Bitwise have now integrated staking features into their filings, enhancing the potential yield for investors. Despite these advancements, risks such as smart contract vulnerabilities and slashing penalties for validator misbehavior remain important considerations.
Also Read: Solana Surges as CME Group Announces SOL Futures Launch
