Investing in Solana: The Summer of ETFs or Just a Fickle Fad?

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  • It appears the SEC might just give a nod to SOL ETFs as early as next month. Fancy that!
  • Markets are positively buzzing with excitement for a SOL summer. Who wouldn’t want a bit of that?

Ah, the much-anticipated U.S. spot Solana [SOL] ETFs (exchange-traded funds) could be making their grand entrance this summer, as per the ever-reliable Bloomberg analysts. One of these chaps, the illustrious James Seyffart, has confirmed that the fine details of staking provisions are being discussed, which is rather like saying the butler is polishing the silverware before the guests arrive.

In what could be a rather early sign-off, several hopeful issuers, including the likes of Grayscale, Canary, VanEck, 21Shares, and Bitwise, have filed for SOL ETFs, with the SEC’s final decision expected in October. Fingers crossed, eh?

Overall, Bloomberg has placed a rather optimistic 90% approval odds on these products in 2025. Quite the vote of confidence!

Should you take a long position on SOL?

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Moreover, on-chain data suggests there’s ample room for SOL to grow from its current $165 level. According to the MVRV Z-Score valuation indicator, SOL is currently lounging well below its previous local peaks. Quite the underdog story!

As per the attached chart, SOL’s local price peaks of $200 (early 2024) and $295 (early 2025) were marked by the MVRV Z-Score leaping above 2. At press time, the indicator’s reading was a rather modest 0.47, hinting at massive upside potential if history decides to repeat itself. Fingers crossed again!

In summary, the market appears to be in a rather bullish mood ahead of potential U.S. spot SOL ETF and staking approval. On-chain indicators also suggest SOL is undervalued, reinforcing the notion that it may be a splendid buy with notable upside potential. Cheers to that!

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2025-06-11 20:12