Solana Jumps 16% to $160 as REX Shares SOL Staking ETF Nears Approval

Key Notes

• Bloomberg analyst suggests SEC approval for REX Shares' Solana Staking ETF could be imminent based on unusual correspondence speed.
• SOL breaks above falling wedge pattern resistance at $155, positioning for potential run toward $175 intermediate and $200 ultimate targets.
• Nearly 65% of SOL supply currently staked at 7.52% annual rewards, creating potential supply squeeze if ETF drives institutional deposits.

Solana SOL $155.4 24h volatility: 1.8% Market cap: $83.10 B Vol. 24h: $6.21 B price rallied 16% in four days, nearing $160 on Monday as ETF approval speculation and bullish market momentum reignites institutional investor interest.

US SEC on the Verge of Solana Staking ETF Approval

Solana’s recent rally comes as prominent Bloomberg ETF analyst James Seyffart suggested that the US Securities and Exchange Commission (SEC) may be close to approving REX Shares’ application to launch a Solana Staking ETF.

Seems like this Solana Staking ETF could be going live this week. https://t.co/9eXFPnKqrV

— James Seyffart (@JSeyff) June 30, 2025

In a recent post on X, Seyffart noted unusual speed in SEC correspondence, hinting that approval could be imminent. If confirmed, this would mark the first-ever Solana-based ETF in the US market, an institutional breakthrough comparable to Bitcoin BTC $107 230 24h volatility: 0.6% Market cap: $2.13 T Vol. 24h: $23.40 B and Ethereum’s ETH $2 488 24h volatility: 1.6% Market cap: $300.34 B Vol. 24h: $18.94 B current ETF derivatives which excluded yield-bearing options.

REX Shares proposed ETF would offer exposure to Solana staking rewards while enabling investors to earn staking yield without self-custody risks.

At press time, investors have staked 391.3 million SOL across active nodes and smart contracts, with average reward rate of 7.52% annually, according to data from analytics platform StakingRewards. This represents nearly 65% of the total 604 million SOL coins in circulation locked to secure the network and earn yield.

While Solana’s price action remains subdued below the $160 mark on Monday, the potential long-term impacts could enhance investors sentiment on SOL relative to rival altcoins. The SOL Staking ETF could drive the next wave of Solana’s institutional staking deposits, further squeezing circulating supply and exerting upward pressure on prices.

SOL Breaks Falling Wedge Pattern, Eyes $200 Recovery Target

Technical analysis of Solana’s daily chart reveals a textbook falling wedge pattern, a bullish formation that occurs when price action contracts between two downward-sloping trendlines.

After multiple failed attempts in June, SOL has now broken above the wedge’s upper boundary near $155, confirming a potential trend reversal.

This pattern historically signals strong upward momentum, especially when paired with high-volume breakout as observed in the current trading session.

The current move positions SOL for a run toward the $175 intermediate resistance, with the $200 zone, last reached in late March, emerging as the ultimate bullish target.

Notably, the RSI remains neutral at 54.80, leaving room for further upside before reaching overbought territories.

However, traders should monitor key volume clusters. If buying pressure falters below $165, a pullback toward the $145–$150 consolidation base remains likely. But if ETF approval coincides with bullish technicals, Solana could chart its path toward reclaiming $200 and possibly testing new year-to-date highs.

Snorter Presale Heats Up as Solana Eyes $200 Breakout

While Solana rallies on ETF optimism, early-stage meme-fueled projects like Snorter are riding the wave of renewed market interest. Snorter, a Solana-based AI trading bot project, is now in presale and quickly gaining traction among retail investors chasing the next breakout token.

With over $1.6 million raised and only days remaining in the current phase, $SNORT is emerging as one of the most talked-about Solana microcaps. Early presale participants can buy $SNORT at $0.0965, gaining exposure to a project that combines meme culture with real AI utility, including auto-trading tools, smart money tracking, and deep DeFi analytics.

As SOL regains strength, projects within its ecosystem like Snorter stand to benefit from the rising tide. With staking rewards, early launchpad access, and DeFi integration baked into its roadmap, $SNORT could be the sleeper hit of the Solana ETF cycle. Join the Snorter Presale here.

next

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News, Price Prediction