The potential for Solana to revisit its all-time high (ATH) is reflected by the positive indication from the Solana ETF pipeline.
Solana, the popular cryptocurrency, is currently on track to achieve a 13% monthly gain in August, according to recent data. This surge in value comes despite Ethereum leading in price outperformance during the same period.
The cryptocurrency market has been abuzz with news as seven issuers, including Canary/Marinade, Bitwise, Fidelity, Franklin, Grayscale, 21Shares, and VanEck, filed updated Spot ETF filings with the U.S. Securities and Exchange Commission (SEC) on the 29th of August. This move indicates a growing interest in Solana, as these issuers seek to provide Exchange Traded Funds (ETFs) for the altcoin.
In August 2025, multiple firms, including Invesco, VanEck, Bitwise, 21Shares, Grayscale, Canary Capital, Franklin Templeton, Fidelity, CoinShares, and others, filed applications for Spot Solana ETFs with the US SEC. Although the SEC has delayed decisions on some of these applications until October 2025, the active dialogue and amended filings suggest progress and strong market anticipation. As a result, approval is broadly expected to be priced into the market soon or imminent.
Polymarket places a +99% chance that the SEC will allow these ETF products to hit the market, adding to the optimism surrounding Solana. ETF analyst Nate Geraci considers the coordinated filings as a "very good sign" for the likely approval of these products.
However, the Futures Volume Bubble Map indicates an 'overheated' signal, suggesting a possible start of a distribution phase soon. Historically, September has been a challenging month for Solana, with an average gain of only 3%. This trend, if it repeats, could mean a bumpy September for Solana bulls.
Despite the potential for a short-term dip, some analysts are bullish on Solana's long-term prospects. Bitwise CIO Matt Hougan predicted major rotation into SOL during Q4. The altcoin has also experienced a 4.9% surge in Realized Cap Inflows in the past month, further supporting the bullish sentiment.
The potential approval of Spot Solana ETFs, combined with increased demand from crypto treasuries, could potentially push Solana to attempt a new all-time high (ATH). Many now expect Solana to attempt a new ATH by Q4, as consensus across analysts and prediction markets points towards approval of Spot SOL ETFs.
CryptoQuant's indicator suggests that the start of a distribution phase could happen soon for Solana. However, Hougan's statement, "The formula is simple: ETF Flows + Treasury Company + Simple Story = All-Time Highs," suggests that the same factors that contributed to Bitcoin and Ethereum's ATHs could apply to Solana.
Wall Street analyst Tom Lee agrees with the projection that Solana could reach a new ATH. Meanwhile, MemeCore, a cryptocurrency, rallied 93% and hit a new all-time high (ATH) of $1.1. Some analysts have even predicted Solana could potentially reach $300 amid upcoming bullish catalysts in Q4.
In conclusion, while September might present some challenges for Solana bulls, the long-term outlook for the altcoin remains positive, with many analysts predicting a potential new all-time high by Q4. The approval of Spot Solana ETFs, increased demand from crypto treasuries, and the simple, compelling story of Solana could be the catalysts driving Solana's price to new heights.
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