Solana (SOL) has once again found itself in the spotlight after the U.S. Securities and Exchange Commission (SEC) unexpectedly asked asset managers to withdraw their ETF applications for several major altcoins, including SOL.
At first glance, the move appeared negative, spooking some traders who worried about regulatory pushback. However, a deeper look suggests the decision could actually set the stage for a faster approval process – and in turn, a major bullish wave for Solana.
SEC’s Move Could Fast-Track ETFs
ETF expert Eric Balchunas of Bloomberg highlighted that October could turn into what he calls “Cointober” a month when pending crypto ETF applications may finally receive approval. The SEC’s sudden request for withdrawals might not be a rejection at all, but a procedural move designed to align filings with newly clarified regulatory frameworks.
The agency has already approved spot ETFs for top altcoins such as Ethereum (ETH), signaling an evolving stance toward broader crypto adoption. With Solana, Dogecoin, and XRP already securing their first spot vehicles, market watchers believe that Litecoin (LTC) and Cardano (ADA) may not be far behind. If the momentum continues, Solana could be one of the biggest institutional winners in this next wave of crypto ETFs.
Solana Price Prediction: SOL Could Target $450
From a technical perspective, Solana has been respecting its trendline support while consolidating near the $270 level – a key resistance zone that could unlock further upside. This structure mirrors Ethereum’s pattern just weeks before it broke out above $4,000, suggesting a similar move could be in play for SOL.
If bullish momentum strengthens, a breakout above $270 may open the door for Solana to test $350, with a potential run toward $450 in the months ahead. Institutional inflows, coupled with ETF-driven demand, could help fuel this rally and push SOL toward a new all-time high.
Institutional and Retail Interest Aligned
The approval of spot ETFs is likely to drive increased participation from institutional investors who have been waiting for regulatory clarity. Meanwhile, retail confidence remains high, further reinforced by Solana’s growing presence in decentralized finance (DeFi), NFTs, and high-speed blockchain applications.
In addition, early-stage crypto presales like SUBBD ($SUBBD) are gaining traction, with over $1.2 million already raised. Analysts suggest that projects like this could provide some of the biggest gains this cycle, adding further excitement to the altcoin space.
Bottom Line
What initially looked like a bearish signal may instead be the foundation of a much stronger bullish setup for Solana. With “Cointober” on the horizon and institutional interest surging, SOL could be gearing up for a breakout toward $450. For investors, the message is clear: Solana remains one of the top tokens to watch as the next wave of ETF approvals reshapes the crypto market.