Solana (SOL) has experienced dizzying growth in the last 7 days and is once again trading above the $200 line.
The main price catalyst is the expectation generated around a possible approval in the United States of exchange-traded funds (ETFs) backed by the native currency of the Solana network.
According to Polymarketthe cryptocurrency betting platform, 77% of users believe that these SOL financial products will be approved this year.
As CriptoNoticias has reported, Polymarket is considered a “source of truth” to measure opinion polls and is on par with traditional surveys. According to Grayscale, an ETF issuing company, the platform is characterized by its “transparency and network record-keeping, market incentives and the collective intelligence of its users.”
Matthew Sigel, head of digital asset research at VanEck, stood out that these probabilities do not fully reflect reality and expressed his optimism in this regard: “They should be much higher.” His comment did not go unnoticed among the SOL community because this firm is one of those that submitted the form to the United States Securities and Exchange Commission (SEC) to launch the financial product on the market.
In this context, the price of SOL went from $186 to $217 in the last 7 days, which represents an increase of 16%.
The good performance that SOL has shown in the last week allowed it to rise to fifth place in the ranking of the most valuable cryptocurrencies on the market, displacing BNB. Currently, its value exceeds 105,000 million dollars.
Expectation for changes in the SEC
The companies that filed applications with the SEC to launch SOL-based ETFs are: VanEck, Canary Capital, 21Shares, WisdomTree and Grayscale.
So far, the regulatory body has not communicated any official response in this regard, although, of course, everything indicates that they will not be approved under the leadership of Gary Gensler, who during his mandate had a persecutory stance against the cryptocurrency industry.
Gensler announced that he will leave office on January 20, the same day that Donald Trump will take office as president of the United States. His place would be taken by Paul Atkins, who has repeatedly expressed his support for the cryptocurrency industry and it is expected to promote friendly regulation for the sector.
In this context, Franklin Templeton, an asset management company, points out in its latest report that “in 2025, the crypto landscape is likely to experience crucial advances shaped by regulatory clarity, institutional adoption and technological evolution.”
He also highlights: “We believe this will be led by US regulators, such as the SEC, allowing for more diversified financial or investment products related to cryptocurrencies, such as ETFs or tokenized security products.”
If the new administration is willing to work on par with industry players, There could be more clarity on which cryptocurrencies are securities (securities) and which ones are not. Thus, there will be more facilities to launch investment products based on digital assets, such as SOL spot funds.
This could increase the liquidity and accessibility of more traditional Solana investorsgenerating an upward momentum in its price.
Bitwise, an investment company, projects an optimistic scenario in which SOL reaches a price of $750 in 2025.
For it to reach that price, the digital asset would have to have a market capitalization higher than the 360,000 million dollars, which is equivalent to an increase of 200% of its current value.
