What happened?
Bitwise CIO Matt Hougan has predicted a “Solana Season” due to numerous catalysts scheduled for October. The critical date is the October 10 deadline for spot Solana ETFs, where the SEC will either approve or deny applications. Market participants are growing confident that Solana will gain regulated exposure in TradFi markets, as prediction markets are betting nearly 100% on approval odds, especially following Dogecoin’s recent ETF approval.
Who does this affect?
This forecast impacts market participants, especially those who have invested in Solana or are considering doing so. Non-financial firms looking to integrate digital assets into public treasuries may see Solana as an attractive option due to its growing momentum. The U.S. CLARITY Act could also influence institutions waiting for regulatory clarity, accelerating their decision to add digital assets like Solana to their portfolios.
Why does this matter?
The event matters as Solana is gearing up for deeper integration into U.S. capital markets and mainstream balance sheets. This could potentially trigger significant market momentum in the coming weeks. Furthermore, potential Solana ETF approval could push Solana’s price to $1,000, marking a 380% gain. The trajectory of Solana could also prompt higher risk, higher reward plays, particularly benefiting low-cap meme coins in Solana’s ecosystem.