Yeliz Akmaca 
Solana (SOL) has surged above $250, reaching an eight-month high, driven by institutional demand and expectations of an ETF approval. Investors are linking this rally to corporate accumulation and market momentum.
According to Strategic Solana Reserve data, Forward Industries has accumulated 6.82 million SOL. Meanwhile, Sharps Technology collected 2.14 million SOL. Defi Development Corp and Upexi Inc hold roughly 2 million SOL each.
In total, about 17 million SOL — valued at around $4.3 billion — has been accumulated. Additionally, Nasdaq-listed Helius Medical Technologies announced a $500 million treasury bond program focused on SOL. This strategy mirrors Michael Saylor’s corporate debt and equity issuance model for Bitcoin.
Optimism in Options and Derivatives Markets
Bullish expectations are rising in the SOL options market. The put-call premium ratio ranged between 14% and 57% last week, reflecting higher premiums for call options.
Moreover, perpetual futures funding rates are around 8%. While leveraged buying remains limited, institutional accumulation lowers SOL’s risk profile, enabling investors to take safer positions.
ETF Approval and Market Expectations
The U.S. Securities and Exchange Commission (SEC) has introduced regulations that may accelerate spot crypto ETF approvals, boosting interest in potential Solana ETFs.
Grayscale received approval to list its $930 million Digital Large Cap Fund, which primarily invests in Bitcoin and Ether but also includes smaller allocations to XRP, SOL, and Cardano.
Currently, Solana ranks second with $14.6 billion in TVL and a staking yield of 6.8%, surpassing Ether’s 2.9%. In summary, if SEC approval is secured, SOL could reach $300. However, rival altcoin launches and broader market conditions may influence this outcome.
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