Solana (SOL) is gaining attention as a wave of institutional momentum builds around the blockchain, with a major development unfolding in the ETF space.
VanEck’s planned spot Solana ETF has officially been listed on the Depository Trust & Clearing Corporation (DTCC) under the ticker symbol “VSOL,” marking a significant milestone in the asset manager’s pursuit of regulated crypto investment products.
This DTCC listing, though not an outright green light from regulators, signals an essential procedural step toward the mainstreaming of Solana exposure within traditional financial markets.
DTCC listing signals VanEck’s Solana ETF progress
The listing of the VanEck Solana ETF on DTCC’s “active and pre-launch” section indicates that the ETF is eligible for electronic trading and clearing, once the SEC grants approval.
While the fund cannot yet be created or redeemed, its DTCC registration has been widely interpreted as a bullish signal, suggesting that behind-the-scenes coordination with regulatory bodies may be advancing.
According to Bloomberg analysts James Seyffart and Eric Balchunas, the SEC recently asked ETF issuers to amend their S-1 filings, sparking renewed optimism around a possible July approval window.
This procedural update suggests the SEC is engaged in active discussions with asset managers, a positive sign for a market still cautious about altcoin-based ETFs.
Institutional interest in Solana is growing
VanEck’s decision to push forward with a Solana ETF reflects rising institutional interest in gaining exposure to the network without dealing directly with crypto wallets or exchanges.
Solana has emerged as a prime contender for investment products, thanks to its high-speed blockchain, low transaction fees, and rapidly expanding ecosystem that spans DeFi, NFTs, and gaming applications.
By launching ETFs that track the price of SOL, asset managers aim to meet growing demand for diversified digital asset portfolios beyond Bitcoin and Ethereum.
The inclusion of Solana ETFs in portfolios could attract conservative investors seeking exposure to innovation without the operational complexity of custody.
SOL’s short-term price action eyes a breakout
At press time, Solana (SOL) was trading at $147.64, down 2.7% over the past 24 hours, with a circulating market cap nearing $78 billion.
Notably, SOL is currently testing the key Fibonacci retracement levels between 0.618 and 0.786, which often act as reversal zones during broader consolidations.
Analysts point to a falling wedge pattern on the daily chart, commonly considered a bullish indicator, as evidence of potential accumulation ahead of a breakout.
This price action aligns with technical expectations of an upward move toward $204.31, with further upside potential to $229.01 and $258.45 if momentum strengthens.
Market sentiment remains cautiously optimistic
Despite the bullish chart setup, momentum indicators offer a mixed picture, underscoring the importance of confirmation signals.
The Relative Strength Index (RSI) is currently at 42.02, indicating neutral sentiment as the market consolidates and awaits a decisive move.
Meanwhile, the Moving Average Convergence/Divergence (MACD) remains bearish, with the MACD line positioned below the signal line and showing downward pressure, suggesting that bulls need stronger signals to regain control.
Nevertheless, a confirmed breakout from the wedge pattern—particularly in the $128 to $140 zone—could quickly shift sentiment toward a more bullish outlook.
2025 forecasts suggest a gain in the long term
Looking ahead, projections for Solana remain positive, with analysts forecasting a potential high of $298.57 by the end of 2025 and a conservative low of $194.15.
In the short term, CoinLore predicts SOL could reach $152.97 within the next 10 days, signalling steady recovery if market conditions support the uptrend.
These forecasts highlight growing confidence in Solana’s fundamentals and its position in the evolving crypto landscape, particularly as ETF-related developments mature.
In the meantime, as traders and investors monitor the SEC’s response in the coming weeks, Solana’s growing relevance in traditional finance may pave the way for stronger price performance and long-term integration into mainstream portfolios.