Solana price steadies above $205 as ETF and treasury bids gain traction

After suffering a sharp downturn last week, Solana’s price has bounced back into positive territory as ETF optimism and fresh treasury purchases revive momentum.

Solana is showing signs of a rebound after the recent slide that drove prices below the $190 level. The token is up roughly 6.6% in the past 24 hours, trading at $205.36 at press time, according to data from crypto.news.

Though still well below its recent peak near $250, the latest price movement hints at a return of bullish sentiment for SOL (SOL). The recovery comes amid growing anticipation around Solana exchange-traded funds (ETFs), particularly with ongoing amendments by issuers as the SEC’s ruling edges closer.

Asset manager VanEck recently submitted an updated filing for a Solana Staking ETF with a proposed fee of 0.30%. This move has added to the optimism around potential approval, with the first SEC decision due by October 16, 2025. Several other spot Solana ETF applications are also under review, including proposals from Bitwise, Fidelity, Franklin Templeton, CoinShares, Grayscale, and VanEck.

Adding to the bullish momentum around SOL is increasing institutional interest. Solana treasury company Solmate recently announced a direct acquisition of $50 million worth of the token, building on the strategy it unveiled earlier in September. The purchase follows several other large-scale acquisitions by various entities in recent months, underscoring SOL’s growing presence on global balance sheets.

Solana price targets uptrend as SOL treasury holdings hit 20 million

Currently, Solana digital asset treasury firms (DATs) collectively hold a total of 20.12 million SOL, representing 3.5% of the total supply. Forward Industries leads the pack with 6.822 million SOL, followed by Solana Company with 2.2 million SOL.

Other firms, including Sharps Technology, DeFi Development Corp., and Upexi, also hold over 2 million SOL each, while roughly 15 others hold more modest amounts as adoption continues to grow. Several of these companies have committed to long-term accumulation strategies, a move that could significantly support price stability and strengthen investor confidence in the asset.

On the technical front, Solana’s RSI has climbed to 46.82, just below the neutral 50 mark, indicating improving momentum. The Chaikin Money Flow (CMF) shows a healthy +0.23, suggesting capital inflows despite lackluster trading volume.

For a confirmed trend reversal, Solana price needs to close above $210 and reclaim the $220–$225 range. Until then, the current bounce may be a short-term relief rally rather than a full bullish reversal.