Will Solana Price Rally to $300 as Bitwise Launches $BSOL ETF?

Solana price has seen a strong performance, rallying above the $200 level after bouncing off key support. Momentum is building, with a potential retest of recent highs in sight. Over the past 24 hours, SOL has surged by 2%, mounting more than 10%  in the past week after a bullish breakout. One of the biggest milestones of Solana is the launch of Bitwise Solana Staking ETF, BSOL, which is a big move towards institutional adoption, pushing the positive outlook of SOL.

Solana ETFs Set to Launch Today

The Bitwise Solana Staking ETF ($BSOL), Canary Litecoin ETF (LTCC), and Canary HBAR ETF (HBR) are set to launch today. These ETFs follow up after issuers had revised their application language based on U.S. SEC guidance. The Bitwise Solana Staking ETF will bring direct exposure of 100% to Solana. This marks the first U.S. exchange-traded fund to do so. This introduction shows the growing mainstream fascination with decentralized solutions such as Solana.

The $BSOL ETF is expected to maximize the average Solana staking rewards that are over 7% and plans to stake 100% of assets. With a zero-fee plan, the offering will seek to find people interested in leveraging the growth potential of Solana and the staking benefits.

The Solana ETF by Grayscale (GSOL) will be launched on Wednesday today, increasing the exposure to Solana. This action is a sure sign of the growing presence of Solana in the capital markets, and it may make more digital assets eligible to do the same.

According to the latest reports, the futures Open Interest (OI) of Solana has increased slightly by +2.37 to an overall of 10.02b.

Solana price has increased by a strong margin of +71.29, with Solana currently priced at $4.94 million. The price increase indicates that there is positive trend in regards to Solana. The movements of the OI in the futures market, however, indicate that most traders are still wary, awaiting more decisive market patterns.

Analyst Predicts $600 by End of 2025

A crypto analyst has pointed out the optimistic trend of Solana price following its ability to retain a significant support level. The analysis reveals that the recovery is strong since the price is still on an upward trend.  The expert believes this could set the stage for an exciting finish to the year, with $600 as the target price.

Moreover, having this positive view, the cryptocurrency is set to soar towards a massive upsurge in the coming end of 2025.

SOL Price Eyes $300 Amid Bullish Trend

At the time of writing, the price of SOL was trading at $200, up by 2%. The MACD presents a positive trend, as the MACD line rises above the signal line, which indicates a potential extension of the uptrend.

Additionally, the Chaikin Money Flow (CMF), which is a measure of money in or out of a given asset, is at 0.09.

The Solana long-term price prediction has an approximate support level at $200 and $180, should the bearish trend continue.  For a more bullish outlook, breaking above the $250 resistance would be necessary to target higher levels. This potentially could approach $300 in the near term.