Following the launch of the first Solana (SOL) Exchange-Traded Funds (ETFs) in the US, Bybit analysts believe that the cryptocurrency could enter a multi-quarter rally fueled by institutional demand.
In its Crypto Insights Report, the exchange noted that the altcoin joined Bitcoin (BTC) and Ethereum (ETH) as one of the digital assets with regulated brokerage access in the US, marking a key milestone that could reshape “its price trajectory and market structure for years to come.”
Nonetheless, the crypto exchange considers that the most significant impact is “the narrative shift they catalyze,” as the cryptocurrency “is no longer just a high-beta altcoin favored by retail traders — it’s now a regulated, yield-bearing asset with institutional access and global distribution.”
This rebranding aligns with Solana’s technical evolution, as its role in powering tokenized treasuries, real-world assets and permissioned stablecoin issuance makes it a foundational layer for the next generation of financial infrastructure.
However, the altcoin’s price retraced around 8% during the ETF’s first trading week. Additionally, SOL’s price has fallen nearly 20% on the weekly timeframe, reaching a four-month low of $144 earlier this week.
The report emphasized that the subdued response echoes the “sell-the-news” dynamic seen in BTC and ETH’s ETF approvals. Both cryptocurrencies experienced short-term corrections after their respective spot ETF launches before recovering on sustained inflows.
“Solana may be following a similar pattern, with early profit-taking and whale rotation — such as Jump Crypto’s large on-chain transfer — temporarily suppressing upside momentum,” Bybit affirmed.
“If historical patterns hold, Solana could be on the cusp of a multi-quarter rally that redefines its position in the crypto hierarchy,” the exchange concluded.
As of this writing, Solana is trading at $154, a 1% decline in the daily timeframe.
