SOLUSD: Solana Breaks Out to Chase Record Above $260 Even as Broad Crypto Rally Unwinds

Weekend upside swing pushed Solana’s price up by more than 13% and left it lingering just 6% away from the record high hit three years ago.

• Solana (SOLUSD) is pumping hard while the broad market is gradually easing up the attitude. The no-chill token, rival to the second-largest crypto Ethereum (ETHUSD), soared 13% over the weekend as bright prospects lifted investor excitement — a game-changing exchange-traded fund based on Solana might be coming. The ETF is rumored to get the greenlight sometime in 2025. But not without overcoming lots of obstacles along the way.
• Now that Donald Trump has secured a second four-year term in the White House, crypto bros are hyped over his warm stance toward the industry. And they expect big things like Gary Gensler losing his job at the Securities and Exchange Commission, the agency that approves new ETF filings. With this in mind, analysts are quick to say that upbeat prospects of a spot Solana ETF could raise the token’s price to a new record even this month.
• Solana hit $245 per token early Monday, pushing through a three-year high and getting dangerously close to its 2021 record of $260 a piece. So what would a spot Solana ETF be? A spot ETF is an investment vehicle that allows investors to get a piece of whatever is inside. In this case — genuine Solana tokens. Spot ETFs offer easy access to the underlying asset as they’re listed on major exchanges through popular brokerages. Presently, the US has approved only two spot crypto ETFs — eleven funds invested in Bitcoin and nine funds invested in Ethereum.