Coinspeaker SOL Price Outperformance Can Continue in 2025 Driven by Solana ETF Approval
While Solana fails to garner enough limelight, market analysts believe that SOL price SOL $189.3 24h volatility: 4.3% Market cap: $91.33 B Vol. 24h: $4.94 B will outperform Bitcoin BTC $93 083 24h volatility: 2.3% Market cap: $1.84 T Vol. 24h: $66.38 B and Ethereum ETH $3 261 24h volatility: 2.8% Market cap: $391.35 B Vol. 24h: $33.55 B this year in 2025. Reports suggest that the approval of the spot Solana ETF and increasing interest from retail investors will drive this rally.
Amid the broader market correction in the last two days, SOL price has come under strong selling pressure once again slipping under the $200 psychological level. As of press time, the Solana price is trading at $190.18 with a market cap of $92 billion.
Despite the ongoing correction, Solana is looking ahead for notable gains this year in 2025, as stated Nansen research analyst Nicolai Søndergaard. This would be largely backed by retail investors’ profit-driven expectations. While speaking at the Emergence Prague 2024 event, Søndergaard said:
“[Solana’s appeal] is the function of expected profits. It’s that Solana seems cheaper. If you’re looking at a unit, you just think this is cheaper to buy”.
Currently, Solana’s market cap is less than $100 billion. Thus, it is one-fourth the size of Ethereum (ETH) and nearly 20 times smaller than Bitcoin (BTC) despite being the sixth-largest cryptocurrency as of date. This shows that SOL price has massive room to grow further from here onwards.
Solana ETFs to Drive SOL Price Above $400
Under the Donald Trump administration and the SEC leadership of crypto-friendly Paul Atkins, crypto market analysts are very hopeful regarding the approval of the spot Solana ETF. Following this approval, SOL price can undertake a new trajectory with analysts giving targets of $400 and above.
The crypto industry may witness the approval of the first Solana ETFs by the end of January, shortly after President-elect Donald Trump’s inauguration on January 20. Leading the race for a Solana ETF are at least five contenders, including asset management giants VanEck, Grayscale, 21Shares, Bitwise, and Canary Capital.
Grayscale’s Solana ETF application has a deadline of January 23. On the other hand, four other applicants will get a preliminary decision by January 25, 45 days after the first application made in November 2024.
A Solana ETF approval appears highly likely in 2025, but the key uncertainty for crypto investors lies in the timeline, according to Nansen’s Søndergaard:
“The question is if it’s going to take a lot of iterations before it goes through, similar to what happened with BTC and ETH. But I think it’s definitely happening in 2025.”
A US Solana ETF could provide traditional investors without centralized exchange (CEX) accounts an easier way to gain exposure to SOL, the analyst explained.
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SOL Price Outperformance Can Continue in 2025 Driven by Solana ETF Approval
