The
Solana
(SOL) blockchain is experiencing a resurgence of attention from both institutional players and developers, fueled by a
spike in ETF investments
, regulatory advancements in Hong Kong, and an anticipated network upgrade designed to lower validator expenses. Although rumors about the Solana Genesis Wallet being reactivated have not been verified, the ecosystem’s ongoing progress points to increasing adoption and infrastructure enhancements.
This week, the REX-Osprey Staking Solana ETF (SSK) recorded $24 million in net inflows, pushing its total managed assets above $400 million and ranking it among the largest altcoin ETFs on Wall Street. This momentum reflects growing institutional trust in Solana, with
JPMorgan
experts forecasting that future Solana ETFs could see over $6 billion in inflows during their first year. At the same time,
Bitwise's BSOL ETP
, the first U.S. spot Solana ETP, intends to stake all of its assets internally, giving investors access to both price gains and a 7% staking yield. The Securities and Futures Commission in Hong Kong has also granted
SFC approval
for the region’s inaugural spot Solana ETF, which will begin trading on October 27, further broadening international access to SOL.
SOL’s value has climbed back to
$195
, marking a 12% increase from its monthly low, though technical analysis presents mixed signals. The token remains above a significant upward trendline, but sellers have taken advantage of recent volatility, keeping the price below the $200 mark. Analysts suggest that a sustained rise above $220 could spark a 9.76% rally, though bearish trading volumes indicate ongoing selling pressure.
A pivotal upgrade for Solana’s future is the
Alpenglow upgrade
, anticipated by early 2026. This update is set to cut validator operational costs by reducing voting fees, which currently make up 80% of monthly expenses ($4,000 out of $5,000).
Michael Repetny
, CEO of Marinade Finance, highlighted that lowering entry costs will make validator participation more accessible, strengthening the network’s decentralization.
In addition to institutional involvement, Solana’s on-chain metrics remain strong. The supply of stablecoins has increased by 14% over the past month to $15.6 billion, while decentralized exchanges on Solana processed $140 billion in trading volume, second only to Ethereum’s $148 billion. These numbers reinforce Solana’s position as a leading high-throughput platform in the Web3 space.
This week’s industry news also covered topics such as
declining NFT sales
, broader
crypto VC investments
, and fundraising rounds by startups like
Wintermute and YZi Labs
. The media roundup further included
ThinkCareBelieve
.
Even though reports about the Genesis Wallet’s reactivation are still unconfirmed, the combination of ETF-driven demand, regulatory milestones, and technical improvements is setting Solana up for ongoing expansion. As the network gears up for the Alpenglow upgrade and faces increased institutional attention, its success will depend on maintaining both scalability and decentralization.
References
-
SOL
Price Eyes Comeback as Staking Solana ETF Inflows Jump
- ThinkCareBelieve: Week 40 of The Trump Presidency
- NFT Sales Plunge 42% to $93M,
Pudgy Penguins
Sales Nosedive 76%
- Crypto VC Funding: Coinbase Acquires Echo for $375M, Pave Bank Raises $39M
- Wintermute, YZi Labs Pile In as Crypto Startups Snag $100M This Week
- Bitwise Launches BSOL, First Spot Solana ETP in U.S.
- Solana Price Eyes 10% Gains Amid SOL ETF Launch Buzz
- Hong Kong Greenlights First Spot Solana ETF, Outpacing U.S.
- Marinade CEO: Solana Alpenglow Upgrade Could Reduce Validator Onboarding Barrier
- Revolutionary Solana Alpenglow Upgrade Set to Transform Validator Costs This Year
