The price of Solana has kicked off the new year on an upswing following a post-Christmas decline that took SOL below the psychologically important $200 price point.
Solana began surging from lows of $187 on Jan. 1 and hit intraday highs of $209.18 in Thursday’s trade — marking SOL’s highest price since December 19. SOL has risen over 10.8% over the past day to settle at around $206.89. It’s now down 21.3% since setting a new all-time high price mark of $263 in November.
The sharp rise in Solana’s price comes amid traders’ strong anticipation for the first United States spot SOL exchange-traded fund (ETF).
SOL Price Reclaims $200 As BTC Rings In 2025 With Bullish Bang
The price of Bitcoin (BTC), the world’s largest crypto by market cap, dipped as low as $91,800 on Monday, CoinGecko data shows — the lowest price point witnessed on its 30-day chart. Looking back a little further, the last time Bitcoin reached that level was on November 26, just before the parabolic run that ultimately took the top crypto to its current historic high of $108,135 on December 17.
Bitcoin has since rebounded, rising over 3% in the last 24 hours to a current price of $97,287. And as Bitcoin rises, so too do other crypto majors, which are similarly zooming higher. Ethereum rival Solana, for example, has blasted back above $200.
Besides SOL, other majors like Ripple’s XRP have risen roughly 5% over the past day to a current price of $2.43.
$400 SOL Price in 2025 On US Solana ETF Approval?
The SOL price may be on course to hit $400, based on historical price chart patterns and increasing hopes for a U.S.-listed Solana exchange-traded fund (ETF). Investors are increasingly betting on the greenlighting of a SOL ETF before the end of 2025.
A soaring number of asset managers are bidding to introduce spot market Solana ETFs, including Grayscale, VanEck, 21Shares, Bitwise, and Canary Capital. The United States Securities and Exchange Commission (SEC) is now reviewing the pending applications, with a preliminary decision expected by the end of this month.
It’s worth mentioning that Brazil approved its first Solana ETFs in August 2024, setting a precedent for other global jurisdictions. Meanwhile, bettors on the popular crypto betting platform Polymarket predict an 85% chance of U.S. SEC approval for spot SOL ETFs in 2025.
That being said, the outcome will largely depend on the regulator’s stance regarding Solana. The asset’s legal status is currently uncertain due to ongoing scrutiny by the SEC. The agency has previously categorized SOL, along with several other crypto assets, as a security in its enforcement cases against high-profile crypto companies.