Key points:
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The initial excitement of the Solana ETF launch, but institutional demand remains frustrating.
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Ongoing SOL unlock, DAPP sell-off and low network activity with continuous price rallies.
Solana’s local token Sol(Sol(SOL)(sol) Soared 7% on Monday after confirming that the first-ever Solana Exchange Fund (ETF) with points function will be launched on Wednesday. The news prompted traders to speculate whether it could stimulate institutional demand and push Sol to exceed $200.
Sol initially gathered to $161, but adjusted to $157, a 4% gain from 24 hours ago. ETF provider Rex cooperates with Osprey funds to establish a taxable C company, Bypassing typical SEC approval process. This is different from standard bitcoin (BTC) and ether (ethereth) ETFs available in the United States.
The structure enables faster and smoother releases, a path commonly used by energy infrastructure partnerships. However, because the Rex-Sulsol+Staging ETF tax rate is on the company and investor level, it is different from the standard cryptocurrency ETF.
After a bit of excitement, Sol Traders recalibrated their expectations as they realized that similar tools could be launched for almost all Altcoin. In addition, Grayscale’s Solana Trust (GSOL), which has been trading for more than two years, manages only about $75 million in assets.
For comparison Grayscale Ethereum Trust (Ethe) held $10 billion in assets a month before the actual launch of the live Ethereum ETF in July 2024. This huge gap suggests that institutional demand is unlikely to have a significant impact on SOL’s price, regardless of the storage capacity.
Sol Price limits Straking Unlocks, Competition and DAPP sales
Even if Solana gains the first step advantage for several months, it can offset this effect SOL Stabing Unlock And sell pressure from certain dispersed applications (DAPPs) from Solana. According to Defilama, the $585 million worth of SOL will be kept out of release in the next two months.
Additionally, some of Solana’s most successful DAPPs often sell their Sol Holdings. For example, as Onchain Lens reports, in 2025 alone, the token launch platform pump shifted over $404 million worth of SOL to 2025.
This activity helps explain why SOL’s performance matches the performance of competitors ETH and BNB in 30 days, despite inherent bullish ETF news.
Sol Futures Funding Rate provides insights into trader positioning. When demand for bullish leverage is too high, the indicator may increase by 10% per year. Conversely, during bearish times, the funding rate becomes negative as short sellers pay to keep their positions open.
Despite a 12.5% increase in four days, SOL’s financing rate has not exceeded the neutral 10% threshold. The current $157 price remains below the all-time high of $295, while OnChain data suggests that network activity has not resumed. Even around Memecoins hype, Solana’s online revenue has fallen by more than 90%.
Related: Tagged stock trading live on the Defi ecosystem of Kraken, Bybit and Solana
Robini chose a fact Ethereum 2 layer The network launching token stock trading also reduces Solana’s appeal as the preferred solution for high-output DAPPs. Similarly, a total episode Partner with Shopify On June 12, OnChain payments were introduced on the basic network, which eventually resolved transactions at the Ethereum base layer.
At present, there is little evidence that the SOLANA ETF launch will raise SOL RALLY to $200, given the increased competition and the insufficient demand for the currently listed Solana Trust tools.
This article is for general information purposes and is not intended to be considered legal or investment advice. The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent Cointelegraph’s views and opinions.
