As the decision from the US SEC regarding a spot Solana ETF approaches, there are significant developments concerning SOL strategies. If approved, Solana could gain renewed momentum, especially if SOL reaches $520 by 2026.

Current Market Situation

Solana has garnered significant attention, especially after a substantial recovery since 2022. It has seen impressive performance and is noted for its strong ecosystem, even surpassing Ethereum in certain metrics over the past month.

Analysts are closely monitoring SEC’s stance on the approval of a spot Solana ETF. If the ETF is sanctioned, SOL would join only Bitcoin and Ethereum in this category.

SEC’s Position

The SEC set a deadline of October 11 for this decision. Despite classifying SOL and other coins like Cardano (ADA) as unregistered securities in the past, recent movements suggest a potential shift in perspective.

Investment Activities of Sol Strategies

Sol Strategies, which focuses on Solana, has been actively accumulating SOL in anticipation of positive developments. In a week’s time, they purchased over 24,000 SOL, increasing their total holdings to approximately 214,000 SOL. This aggressive buying strategy resembles that of companies like MicroStrategy with Bitcoin.

Potential for Price Growth

If the SEC greenlights the Solana ETF, it might trigger a price surge for SOL. However, caution is warranted, as even successful products in the market, such as Ethereum’s ETF, have not reached their previous peaks.

Projections for SOL

VanEck forecasts the potential for SOL to exceed $520 by 2026, primarily based on the predicted growth of the US M2 money supply and its historical correlation with cryptocurrency value increases.

Conclusion

In what could be a pivotal moment for Solana, the upcoming SEC decision may significantly affect market dynamics. Market participants remain vigilant as they await the outcome.