Why Solana Trading Volume Skyrocketed 113% Today: ETF Approval Confirmed?

16 Jun, 2025 Updated 17 Jun, 2025

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Expertise : Crypto News & Market Analysis, Content Strategy & SEO Writing

Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.

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Highlights

Solana ETF approval odds skyrocketed as investors' sentiments turned highly optimistic.
Investors’ confidence pumps the Solana’s trading volume (up 113%) and price (up 7.7%) today.
SEC's decision on SOL ETF is still pending, but experts claim a high chance of approval.

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The upcoming SEC’s decision on the Solana ETF keeps the investors occupied, especially as the high approval odds are forming. The SOL token itself is in high demand and is the 6th biggest cryptocurrency, and today its trading volume has skyrocketed 113% as the investors’ interest builds. Let’s discuss.

Solana ETF Odds & Other News Fueling Trading Volume

Solana is among the most popular blockchains, and many trending meme coins have been launched on it. Their performance and on-chain activity also fuel the SOL token price and trading volume. In June, it processed 45.77M transactions, outpacing Ethereum. Additionally, with the crypto market recovering after the crash today, the assets with high investor activity are in green.

Although the same is true for SOL, its ETF hype is the bigger catalyst. Just recently, ETF issuers updated their filings per the SEC’s request. This event pumped the investors ‘ expectations for spot Solana ETF approval.

Bloomberg analyst James Seyffart has predicted high chances of Solana approval, and Polymarket odds show confidence in the same, hence high trading volume, currently at $4.53B.

Besides, Invesco and Galaxy Digital registered the Invesco Galaxy Solana Trust, hoping to launch the exchange-traded fund in the US. As more and more companies follow this trend, the demand for the token is also rising. It is trading at $157.27 after a 7.7% surge today, per CoinMarketCap.

Is the SEC About to Approve Solana ETF?

SEC’s request for updated ETF filing is believed to be a positive hint about the upcoming approval. Moreover, the experts’ analysis and the maintained Polymarket odds (above 90%) for approval signal strong chances.

However, the SEC has not officially announced any news, and the uncertainty persists. More importantly, the SEC is not overlooking only exchange-traded funds, as there are 70+ more.

XRP and Dogecoin ETF approval odds are also high, so the competition may affect SOL’s approval chances.

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.

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Frequently Asked Questions (FAQs)

1. Why is the Solana price up today?

The Solana price surged 7.7% today due to high investor activity (trading volume up 113%).

2. What are the latest updates on Solana ETF?

SEC is reviewing the spot Solana ETF filing and has yet to decide. Recently, the ETFs have updated their filings per the SEC’s instructions.

3. Can the SEC approve the SOL ETF?

Experts believe there’s a high probability that the SEC will approve the SOL ETF, but there’s also uncertainty.

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.