Particle.news
Download on the App Store
5 ARTICLES
·
4d ago

Solana Hits 7-Month High as Bitwise Sees ETF and Treasury Flows Setting Up Year-End Run

Bitwise’s Matt Hougan cites pending SEC rulings on SOL ETPs alongside a $1.65 billion treasury plan as potential catalysts.

‘the ingredients are all there’: solana may be set to soar, says bitwise
Image
Solana

Overview

  • Solana traded near $223–225 on Wednesday after a roughly 24–25% 30‑day gain, reaching its highest level since early February.
  • Multiple issuers, including Grayscale, Fidelity, VanEck, and Bitwise, have spot Solana ETP filings with SEC decisions due by October 10, with approvals not guaranteed.
  • Forward Industries announced a $1.65 billion PIPE backed by Galaxy Digital, Jump Crypto, and Multicoin to buy and stake SOL, naming Multicoin co-founder Kyle Samani as chairman.
  • Bitwise CIO Matt Hougan argues Solana’s smaller market size could magnify inflows, saying a $1.65 billion SOL purchase might equate to a $33 billion move in Bitcoin on a relative basis.
  • A planned network upgrade is reported to target faster finality of about 150 milliseconds, bolstering the speed narrative despite ongoing debates over centralization and reliability risks.