Solana Pops 1.2% as ETF Odds Hit 90% and $63M Stake Signals Breakout

Solana (SOL) up 1.2% to $152 as institutional activity and ETF hopes boost sentiment. Bloomberg’s Eric Balchunas...

Written by: Arslan Butt • Tuesday, June 17, 2025 • 1 min read

• Last updated: Tuesday, June 17, 2025

Quick overview

Solana (SOL) has increased by 1.2% to $152, driven by institutional interest and optimism surrounding ETF approvals.
Bloomberg analysts now estimate a 90% chance of Solana ETFs being approved, with multiple firms filing for ETFs, indicating strong investor interest.
Galaxy Digital has staked $63.4M in SOL, contributing to a growing institutional support for the cryptocurrency.
Technically, Solana is positioned for a potential breakout, with key price levels indicating significant movement could be imminent.

Solana (SOL) up 1.2% to $152 as institutional activity and ETF hopes boost sentiment. Bloomberg’s Eric Balchunas and James Seyffart now see 90% chance of Solana ETFs getting approved — CoinShares just joined 7 other issuers in filing an S-1 with the SEC.

Institutional appetite continues to position Solana as a top contender for mainstream crypto exposure. With Grayscale, VanEck and 21Shares filing for ETFs, investor interest in SOL’s long-term potential is back.

Galaxy Digital stakes $63M in SOL

And to top it off, Galaxy Digital staked $63.4M in SOL in two transactions in one day. According to Arkham Intelligence:

260,000 SOL ($40.7M)
150,000 SOL ($22.7M)

Galaxy’s total staked SOL is now over 660,000 coins ($101M) with 123,000 SOL liquid ($18.8M). Other firms like Solana Strategies, DeFi Development Corp and Upexi have also made large treasury allocations to SOL, so institutional support is building.

Solana Technical Setup points to big breakout

From a technical perspective Solana is trading inside a symmetrical triangle around $152.13 with price compressing towards the apex. The 2-hour chart shows a tight squeeze between higher lows and lower highs, so a big breakout may be near.

Solana Price Chart - Source: Tradingview — Solana Price Chart – Source: Tradingview

Upside Breakout Target: $158.84 and $164.07
Supports: $147.64, then $142.13 and $135.79
MACD: Bearish crossover
50 EMA: Currently at $152.35, a key pivot

A break above $154 with volume could be a clean long opportunity to $158.84. But a close below $147 would be weakening momentum and open up lower supports.

Despite the price bounce and ETF hopes Solana is still sensitive to derivatives flows. Open interest down 7% to $6.37B and recent long liquidations ($15M) vs shorts ($4M) so leveraged traders are cautious.

ETFs building and price near a technical resolution, Solana’s next move will set the tone for altcoins in Q3.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.