Key takeaways:
Solana’s native token, SOL (SOL), was trading at $203 on Tuesday, marking a 14% increase from its recent low of $177 reached last Wednesday. This rebound was driven by rising anticipation surrounding the launch of the first Solana ETF in the US today.
First US-based Solana ETF debut
The Bitwise Solana Staking exchange-traded fund (ETF) debuted on the New York Stock Exchange on Tuesday under the ticker symbol BSOL.
Related: ‘The claim that L2s inherit ETH security is erroneous’ — Solana co-founder
This marked the first US spot Solana ETF providing 100% direct exposure to SOL, featuring built-in staking that offers approximately 7% annual yields from network rewards.
Introducing $BSOL — the Bitwise Solana Staking ETF. Starts trading tomorrow.
– First U.S. ETP with 100% direct exposure to spot SOL
– Maximizing Solana’s 7%+ average staking reward rate*
– Targeting 100% of assets staked
– Staking through Bitwise Onchain Solutions, powered by… pic.twitter.com/Vo8Ko0qOCn— Bitwise (@BitwiseInvest) October 27, 2025
Bloomberg ETF analyst Eric Balchunas confirmed NYSE listing notices, noting that Grayscale’s Solana Trust (GSOL) will convert to a spot ETF tomorrow, providing an additional regulated channel for exposure to SOL’s price and staking rewards.
The approval process for crypto ETFs in US markets has been stalled since the federal government shut down on Oct. 1.
“Approved by the SEC, Bitwise’s $BSOL ETF officially begins trading today,” said crypto analyst Bitcoinsensus in an X post on Tuesday, adding:
“This marks a major milestone for Solana and altcoin ETF adoption. The ETF also gives investors access to full staking features.”
This launch is expected to elevate SOL’s price through unprecedented institutional inflows, similar to the REX-Osprey Solana Staking ETF, SSK, which launched on June 30 with over $12 million in volume on its first day.
JPMorgan, a multinational investment bank, predicted that a Solana ETF could attract between $3 billion and $6 billion within its first year, based on the adoption rates of Bitcoin and Ether ETFs.
SOL price can double from a bull flag breakout
SOL’s price action displays a bull flag pattern on the weekly time frame, suggesting a potential rise to $400 and above.
A bull flag is a bullish continuation pattern that appears after a significant price increase, followed by a consolidation phase at the higher end of the price range. As a technical guideline, a breakout above the flag’s upper trendline may instigate a rapid price ascent.
The chart pattern will complete once the price surpasses the flag’s upper boundary at $205.
The projected target for this pattern, determined by adding the height of the flag post to the breakout point, is $412, which represents a 104% increase from the current level.
Supporting SOL’s upside is the increase in RSI’s value to 53 on Tuesday, up from 34 in mid-June, when the bull flag pattern began. This indicates a consistent rise in upward momentum.
A similar target was proposed by analyst BitBull, who said “$SOL is still holding its 3-year support trendline,” with the pivotal level for Solana being $280.
“A weekly close above this level will trigger a substantial rally,” the analyst stated, adding:
“I still predict $400-$500 SOL is achievable this cycle.”
As reported by Cointelegraph, the RSI climbing above the midpoint signifies that buyers are in control. This could assist SOL in breaking through $220, paving the way for a rally towards $260 and beyond.
This article does not constitute investment advice or recommendations. Each investment and trading decision involves risk, and readers are encouraged to conduct their own research.
