• Solana breaks $200 as a golden cross forms, signaling a potential bullish breakout.
• Bitwise and Grayscale ETFs launching this week offer staking yields and institutional exposure even amid a U.S. government shutdown.
• Analysts project long-term dominance for Solana as adoption grows across real-world finance and tokenization sectors.
Solana (SOL) has surged past the $200 level again, gaining over 1.1% in the past 24 hours as a golden cross pattern emerged on its daily chart. The formation—where a short-term moving average crosses above a long-term one—often signals the beginning of a bullish trend. According to TradingView data, Solana’s 9-day moving average has crossed above its 26-day moving average, hinting that a fresh rally may be underway.
At the time of writing, SOL is trading around $200.19, with an intraday high of $203.83. Trading volume, however, dipped 9% to $6.04 billion, suggesting traders may be consolidating positions ahead of the highly anticipated ETF debut later this week.
Solana ETFs Launch Despite Government Shutdown
The bullish technical setup aligns perfectly with a major milestone for Solana: the debut of its first U.S. spot Solana exchange-traded funds (ETFs). Bitwise’s Solana Staking ETF (BSOL) will launch on the New York Stock Exchange (NYSE) on October 28, followed by Grayscale’s Solana Trust (GSOL) conversion into an ETF on October 29.
Despite the ongoing U.S. government shutdown, these ETFs will still go live due to a legal clause that allows their S-1 registration filings to automatically take effect after 20 days—even without explicit SEC approval. Both ETFs will offer staking rewards with yields near 7%, giving investors both exposure and passive income potential. Analysts expect this to bolster demand for SOL as institutional access expands.
Analysts Expect Solana to Lead Next Market Cycle
Within the past 48 hours, Solana joined Bitcoin and Ethereum in driving up overall crypto trading volumes, with buyer activity surging by nearly 97%. Prominent investors like Anthony Scaramucci, founder of SkyBridge Capital, have also turned highly bullish on Solana’s future.
Scaramucci predicts Solana could overtake Ethereum by 2030, citing its speed, scalability, and growing role in real-world asset tokenization and stablecoin integration. As major traditional financial institutions begin exploring Solana’s blockchain for enterprise-grade use cases, long-term adoption prospects appear increasingly strong.
What’s Next for SOL
All eyes are now on how Solana reacts following the ETF debuts. If price momentum holds above the $200 level and trading volume recovers, analysts believe the golden cross could confirm a sustained breakout toward $220–$250.
With ETF inflows likely to accelerate institutional exposure, Solana’s position as one of the most scalable blockchains in the market could help it maintain its current momentum—and possibly redefine the hierarchy of top-tier crypto assets heading into 2026.
