He wrote in a social media post:
“The formula is simple: ETF fund flows + fund companies + a simple story = all-time highs. It applies to Bitcoin, it applies to Ethereum, it applies to Solana.”
Solana, a blockchain known for its high-speed processing and low transaction costs, has seen increasing developer activity across payments, gaming, and consumer-facing applications.
The network’s efficiency has helped position it as a potential alternative to Ethereum for decentralized applications, fueling speculation about the eventual approval of a spot Solana ETF in the US.
Given its growing market capitalization and expanding ecosystem, many view Solana as the next logical step for institutional product offerings.
Hougan’s comments add weight to that view, suggesting that once fund vehicles are established, Solana could follow the same trajectory as its larger peers.
Bitwise has taken a long-term bullish stance on Solana, projecting in a detailed January report that the token could reach between $2,300 and $6,600 by 2030, depending on adoption scenarios. The firm based its estimates on Metcalfe’s Law, linking network growth to valuation.
This mix of ambitious long-range forecasts and tempered short-term expectations reflects Bitwise’s view of Solana as a high-potential but still maturing asset.
