Solana Price Prediction as ETF Inflows Hit $621M After 21 Days

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Solana Price Prediction as ETF Inflows Hit $621M After 21 Days

Highlights

  • Institutional interest drives Solana's growth through ETF inflows.
  • Solana price could break $150 with sustained bullish momentum.
  • The move by ETFs indicates the increasing belief in the future of Solana.

Solana price hovered at $137 on Wednesday after a slight 24-hour increase, showing signs of potential upward momentum. The token is eyeing a breakout above $150 following recent ETF inflows totaling $621 million over 21 days. 

The overall crypto market has made a 0.66% gain over the last day, to a 4% decline over the last week. Bitcoin has held above $87,000, which is an indication of further gains. Ether price has been slightly recovering, and it is trading at about $2,900. Other altcoins, such as DOGE and XRP, are also rebounding with the help of the better market sentiment and the increase of ETF interest.

Solana ETFs Break Records with $621 Million in Total Institutional Investment

Solana’s exchange-traded funds (ETFs) have received a steady influx of institutional investments, totaling $53.1 million on November 25. This is a major continuation of the trend since the ETFs were launched. The regular inflows show that there is an increasing institutional interest in Solana and its ecosystem.

Bitwise was the first to invest, putting in money into Solana ETFs on November 25, of up to $31 million. Grayscale came second with a contribution of 16M. Fidelity contributed 4.8 million, and VanEck put in 1.3 million. These investments demonstrate that Solana is well supported by the leading investment companies.

The sum that has been invested in Solana ETFs is currently at $621 million. This continued attention is evidence of how confident institutions are becoming in the potential of Solana. With the rise in the ETF market, Solana will find itself in a stronger position in the digital asset industry.

Franklin Templeton Files for Solana ETF with SEC

Franklin Templeton, which manages more than 1.66 trillion worth of assets, has submitted an SEC Form 8-A. This filing is an important step prior to the initiation of the Solana-based Exchange-Traded Fund (ETF). Most of the time, these filings are preceded by one-day trading.

Franklin Solana ETF will be available on NYSE Arca. This action is an indicator that the conventional financial institutions are becoming interested in digital assets. The registration paves the way to the possible launch of the fund.

Will Solana Price Reach $150 in Coming Weeks?

As of the writing, the SOL price has seen a 2% surge over the past 24 hours, currently at $137. This upward price development is after the consolidation, and evidence that the cryptocurrency is continuing its rise.

Solana Price Prediction as ETF Inflows Hit $621M After 21 Days
Source: SOL/USD 4-hour chart: Tradingview

The MACD indicator is in the positive region, and the histogram displays green bars. But the MACD line is still slightly above the signal line, indicating that even though there is bullish pressure, there is no indication that the momentum is so strong that it can be sustained to proceed with a sustained rally. Also, the Chaikin Money Flow (CMF) is 0.08, which implies a neutral sentiment of buying and selling pressure.

For the Solana price outlook for long term, if the current momentum continues, SOL may look toward $150. On the downside, if the price fails to hold above the current support around $130, there could be a potential pullback to lower levels.

To sum up, the price of Solana is showing positive dynamics, which are underpinned by the great institutional basis and ETF inflows. Although the growth in the short term will be feasible, keeping the levels of support will be vital for further gradual growth.

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Frequently Asked Questions (FAQs)

1. What is the significance of the Franklin Templeton Solana ETF filing?

Franklin Templeton's filing with the SEC marks a crucial step for launching a Solana-based ETF, signaling growing interest from traditional financial institutions in digital assets.

2. Is Solana expected to reach $150 soon?

Solana could break $150 if the current upward momentum continues, supported by strong ETF inflows and bullish market sentiment.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

SOL

Solana

$137.2456 0.72% (24h)

24 Hours volume

$4.48B

Market Cap

$76.76B

Max Supply

NA

Buy $SOL with MEXC
About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.