Solana (SOL) Price: Staked ETF Launch Sparks 7% Rally as Summer Season Begins
TLDR
Rex Shares announced the launch of the first Solana staked ETF in the US, set to debut Wednesday
SOL price surged 7% on Monday to $161 before settling around $157, with $9 million in short liquidations
The ETF will track SOL performance while generating yield through on-chain staking rewards
Analysts target $180-$200 price levels if SOL can reclaim the $159-$167 resistance zone
Institutional demand remains uncertain as existing Solana trust products have attracted limited investment
Solana’s price jumped to $161 on Monday following the announcement of the first Solana staked exchange-traded fund in the United States. Rex Shares partnered with Osprey Funds to launch the product this Wednesday.
The REX-Osprey ETF will track SOL’s performance while generating yield through on-chain staking. This marks a new approach to crypto ETFs by incorporating staking rewards directly into the product structure.
The price surge led to nearly $9 million in short positions being liquidated on Monday afternoon. SOL initially rallied 7% before adjusting to $157, representing a 4% gain from 24 hours prior.
Market analyst Daan Crypto Trades noted that Solana bounced over the weekend but has not yet turned the short-term trend around. He emphasized that reclaiming the $159-$167 area is necessary for higher price targets.
$SOL Bounced nicely over the past week but is still yet to turn the low timeframe trend back around.
Right above we have the Daily 200MA/EMA coming in between $159-$167. I would want to see price trade back above that to start targetting the $180-$200 region again.
The SOL Spot… pic.twitter.com/2bbONlh7Xq
— Daan Crypto Trades (@DaanCrypto) June 30, 2025
The Daily 200-day Moving Average and Exponential Moving Average are located within this resistance range. Breaking above this level could trigger a move toward the $180-$200 region.
ETF Structure and Approval Process
The Rex Shares ETF uses a different structure than traditional crypto ETFs. The partnership established a taxable C-corporation, bypassing the typical SEC approval process.
Coming Wednesday: The First-Ever Staked Crypto ETF in the U.S.!
Introducing the REX-Osprey™ SOL + Staking ETF, designed to track the performance of Solana while generating yield through on-chain staking.
✔️ SOL exposure
✔️ Staking rewards
A new era of yield-generating… pic.twitter.com/YwJaqdmnHp
— REX Shares (@REXShares) June 30, 2025
This approach enables a faster launch compared to standard Bitcoin and Ethereum spot ETFs. However, it differs in tax efficiency as the product taxes dividend income at both corporate and investor levels.
Multiple investment firms have filed with the SEC to launch spot SOL ETFs. These include Grayscale, VanEck, 21Shares, and Bitwise.
Recent reports suggest these products have a high likelihood of approval in the coming weeks. This has fueled investor expectations of a bullish “Solana Summer.”
Technical Analysis Points to Potential Breakout
Analyst Hardy highlighted Solana’s technical movement as a “textbook breakout and retest” pattern. The cryptocurrency reclaimed the crucial $144-$148 area over the weekend before breaking past $150.
SOL broke out of its local downtrend line after reclaiming $148 resistance. The analyst noted there is “juicy liquidity sitting above, ready to be taken.”
Crypto Batman observed that Solana broke out from a bullish flag pattern that bottomed at the 0.618 Fibonacci level. This indicates impulsive strength in the current trend.
SOL has been trading within a range between $130 and $180 for nearly two months since the May breakout. The analyst forecasted a potential retest around $148 could set up the next upward move.
Challenges Facing Sustained Rally
Despite the ETF excitement, institutional demand remains uncertain. Grayscale’s existing Solana Trust manages only about $75 million in assets after trading for over two years.
For comparison, Grayscale’s Ethereum Trust held $10 billion before the spot Ethereum ETF launch. This gap suggests limited institutional interest in Solana products.
About $585 million worth of SOL will be unlocked from staking over the next two months. This represents potential selling pressure on the market.
Some successful Solana DApps have been selling their SOL holdings. The token launch platform Pump transferred over $404 million worth of SOL to exchanges in 2025 alone.
SOL’s funding rate remains below the neutral 10% threshold despite recent gains. The current price of $157 sits 47% below the all-time high of $295.
Source: laevitas.ch
Network activity has not shown signs of recovery. Solana’s network revenue has dropped by over 90% since January despite memecoin activity.
As of this writing, Solana trades at $155, maintaining its position above the key $150 support level.
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Filed under: News - @ July 1, 2025 8:25 am