As Solana (SOL) faucets the $225 barrier, Bitwise’s CIO forecasted {that a} bullish This fall rally is perhaps brewing for the altcoin if it follows Bitcoin (BTC) and Ethereum’s (ETH) recipe.
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Solana To Comply with BTC, ETH’s Recipe?
On Tuesday, Matt Hougan, CIO at Bitwise, affirmed in a brand new memo to purchasers that the recipe for robust returns has been clear over the previous 18 months: “Take one half ETP inflows, add robust company treasury purchases, and voilà—you get huge returns.”
Hougan defined that BTC adopted this recipe since January 2024, whereas ETH found the identical system in April 2025. “It’s no shock that the recipe works. It’s basic provide and demand,” he said, including that “all of the substances are there for an epic end-of-year run for Solana.”
Because the CIO highlighted, a number of issuers, together with Bitwise, Grayscale, and VanEck, have filed to launch spot SOL exchange-traded merchandise (ETPs), that are anticipated to be permitted firstly of This fall.
As reported by NewsBTC, the US Securities and Change Fee (SEC) introduced final month that it had pushed again its choice on Bitwise, 21Shares, VanEck, Grayscale, and Canary Capital’s spot SOL exchange-traded funds (ETFs) for 2 months, pushing it to October 16, 2025, “which means we could have a number of issuers pushing spot Solana ETPs in This fall.”
In the meantime, three main companies, Galaxy Digital, Leap Crypto, and Multicoin Capital, just lately secured $1.65 billion in money and stablecoins to launch a publicly traded SOL-focused treasury firm, Ahead Industries, to buy SOL, stake it, and generate extra return.
Hougan additionally famous that Ahead Industries named Kyle Samani, who has been among the many cryptocurrency’s most constant promoters, as chairman. To Bitwise’s CIO, if Samani can “carry the Solana message” like Michael Saylor and Tom Lee have finished with Bitcoin and Ethereum, it would assist drive investor demand.
SOL’s Secret Ingredient
Hougan identified that the existence of ETPs and treasury corporations doesn’t assure demand, including that there should be elementary causes for buyers’ curiosity in these automobiles.
“Solana is an Ethereum competitor,” he asserted, “it’s a programmable blockchain designed to host stablecoins, tokenized belongings, and decentralized finance purposes, amongst different issues.”
The blockchain just lately permitted a serious technical improve that can make it one of many quickest networks on the planet. Moreover, it’s also third in stablecoin liquidity amongst programmable blockchains and fourth in tokenized belongings, recording fast development on this sector.
Nonetheless, he argued that there’s a key distinction between SOL and the 2 main cryptocurrencies. Whereas Bitcoin’s market capitalization sits round $2.2 trillion, and Ethereum’s is close to the $530 billion mark, Solana’s market capitalization is round $120.8 billion, 1/twentieth the dimensions of BTC and fewer than 1/4th the dimensions of ETH.
“Scaled for the dimensions of the blockchain, a comparatively small quantity of flows into Solana might considerably influence costs,” Hougan defined.
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He detailed that Ahead Industries’ $1.6 billion buy of SOL shares could be the equal of $33 billion in BTC purchases, noting that this could possibly be barely offset by Solana’s larger annual inflation price of 4.3%, versus Bitcoin’s 0.8% and Ethereum’s 0.5%.
“The setup continues to be enticing,” he concluded, suggesting that buyers preserve their eyes on Solana within the coming months.
As of this writing, Solana is buying and selling at $222, a 5.1% improve within the weekly timeframe.
Featured Picture from Unsplash.com, Chart from TradingView.com
