Immy Dorse 
Well, it’s been a rough weekend for Solana. The price has been under pressure, no doubt about that. Sentiment across the crypto space feels a bit muted right now, maybe even cautious. But there are a couple of things on the horizon that could change everything. Perhaps we’re just in a lull before something bigger happens.
All Eyes on SOL Strategies and ETFs
Solana was trading around $200 earlier today. That’s down over 7% from its peak this month, which isn’t great. But then again, it’s still double its lowest point from earlier this year. So perspective matters, I suppose.
The real story might be what’s coming next. The big catalyst everyone’s whispering about is the SOL Strategies Nasdaq listing. It’s moving from the over-the-counter market and is set to start trading on September 9th under the ticker STKE. This is a pretty significant step up in visibility.
This firm has quietly become one of the largest accumulators of SOL tokens out there. They’re sitting on over 435,000 SOL, worth something like $87 million. And they’ve announced plans to raise a whopping $500 million to buy even more. That’s a serious vote of confidence.
A Tricky Time for Treasury Plays
Of course, the timing is interesting. To be honest, treasury companies—those that hold assets like bitcoin or, in this case, Solana—have fallen out of favor with investors lately. Just look at others in the space; their stock prices have taken a real hit. So it’s a bold move. But if anyone can pull it off and bring some positive attention back to the model, it might be them. This listing could provide a solid platform for raising more capital, which in turn could give Solana itself a real boost.
The ETF Question Looms Large
But perhaps the bigger deal is the potential for SOL exchange-traded funds. The SEC has a final deadline set for October 16th for applications from Bitwise and 21Shares. And it’s not just them—other big names like Fidelity and Franklin Templeton have filings waiting in the wings for around the same time.
There’s a growing sense that approval is more likely than not. Prediction markets are putting the odds above 80%. If these funds get the green light, it would open up Solana to a whole new world of institutional investors who can’t or won’t buy the token directly. That kind of influx of capital could be massive.
Where Does the Price Go From Here?
Looking at the charts, Solana has actually had a pretty strong run since its low back in April. It’s managed to climb from around $95 to recently touch $218. It’s formed what traders call a golden cross, which is generally seen as a bullish signal, and it’s bumping up against a key resistance level now.
The feeling is that if it can break through that, a run toward the yearly high of $295 isn’t out of the question. That would be a gain of nearly 50% from where it is now. Of course, that’s a big ‘if.’ Nothing is certain in crypto. But between the Nasdaq listing and the ETF decisions, the next few weeks could be very telling for Solana.