90% chance for Solana ETFs in 2025 – Is it time to buy SOL now?
SOL could be grossly undervalued at current levels if the ETF approval happens in July.
- SEC could approve SOL ETFs as early as next month.
- Markets were bullishly positioned for a SOL summer.
The much-awaited U.S. spot Solana [SOL] ETFs (exchange-traded funds) could hit the market this summer, according to Bloomberg analysts.
One of the analysts, James Seyffart, confirmed that staking provisions were also being addressed,
“Conversations around the nuances of staking Solana in ETFs is getting underway between SEC and hopeful Solana ETF issuers.”
This could be an early sign-off. Several potential issuers, including Grayscale, Canary, VanEck, 21Shares, and Bitwise, have filed for SOL ETFs with a final SEC decision in October.
Overall, Bloomberg placed 90% approval odds on the products in 2025.
Should you long on SOL?
Reacting to the update, Eric Balchunas, another senior Bloomberg ETF analyst, added that SOL ETFs and crypto index ETFs could be the first in line.
“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products)”
According to the analysts, including ETF Store’s Nate Geraci, the accelerated approval for SOL ETFs could be due to recent RX-Osprey technical maneuvers to get first market approval.
“Noteworthy to see SEC might be expediting approval of spot sol ETFs & staking in eth & sol ETFs in response to recent Rex-Osprey end-around…”
Notably, Rex-Osprey ditched the normal 19b-4 filing procedure with a prolonged waiting period and opted for the shorter Investment Company of 940 (40-Act).
That said, traders and investors reacted positively to the update. According to SOL’s 25 Delta Skew, the indicator surged positively from 2 to 4 across 3-week, 1-month, and 2-month tenors.
This meant a call premium, more demand for calls (bullish bets) than puts (bearish bets), in the near term. Simply put, the market positioning was overall bullish ahead of potential ETF and staking approval.
Besides, on-chain data also showed immense growth room for SOL from the current $165 level. According to the valuation indicator MVRV Z-Score, SOL was way below previous local peaks.
Per the attached chart, SOL’s local price peaks of $200 (early 2024) and $295 (early 2025) were marked by MVRV Z-Score jumping above 2.
At press time, the indicator’s reading was 0.47, underscoring massive upside potential if history repeats itself.
Overall, the market appeared bullish ahead of potential U.S. spot SOL ETF and staking approval.
On-chain indicators also pointed to SOL being undervalued, reinforcing the view that it may be a strong buy with notable upside potential.
