Solana’s ETF Era Could ‘Redefine Its Position In The Crypto Hierarchy’ – Report

Following the launch of the first Solana (SOL) Exchange-Traded Funds (ETFs) in the US, Bybit analysts believe that the cryptocurrency could enter a multi-quarter rally fueled by institutional demand.

Solana ETF Era To ‘Reshape’ Price Trajectory

On Friday, 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 narrative and performance.

In its Crypto Insights Report, the exchange noted that the altcoin joined Bitcoin (BTC) and Ethereum (ETH) as one of the digital assets with regulated brokerage access in the US, marking a key milestone that could reshape “its price trajectory and market structure for years to come.”

The report highlighted that SOL’s performance will likely benefit from the global expansion of SOL-focused products. Notably, Hong Kong also approved and launched the first Solana Spot ETF by China Asset Management in late October. Meanwhile, Brazil and Canada also host Solana ETFs, which create “a multi-jurisdictional framework that enhances global liquidity and price discovery.”

Nonetheless, the crypto exchange considers that 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’s 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 may transition from a speculative asset to providing a strategic allocation in diversified portfolios as macro conditions stabilize and ETF inflows build.

SOL ‘On The Cusp Of Multi-Quarter Rally’

According to Farside Investors’ data, the SOL-based investment products have recorded over $300 million in inflows since launching last week, signaling strong institutional demand for the Solana ETFs.

However, the altcoin’s price retraced around 8% during the ETF’s first trading week. Additionally, SOL’s price has fallen nearly 20% on the weekly timeframe, reaching 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 how SOL is accessed, traded and perceived,” dramatically expanding SOL’s investor base.

The report emphasized that the subdued response echoes the “sell-the-news” dynamic seen in BTC and ETH’s ETF approvals. Both cryptocurrencies experienced short-term corrections after their respective spot ETF launches before recovering on sustained inflows.

“Solana may be following a similar pattern, with early profit-taking and whale rotation — such as Jump Crypto’s large on-chain transfer — temporarily suppressing upside momentum,” Bybit affirmed.

The report pointed out Bitwise’s estimate that every $1 billion in ETF inflows could lead to a 30%-50% increase in SOL’s market capitalization. As a result, if inflows reach $2-3 billion in the next year, the cryptocurrency could revisit its all-time high (ATH) levels, and even rally toward $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.

As of this writing, Solana is trading at $154, a 1% decline in the daily timeframe.