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Solana is poised for “an epic end-of-year run” as attainable Solana ETF launches and a $1.65 billion company treasury dedication present the firepower for a rally.
That’s in line with Bitwise’s Chief Funding Officer (CIO) Matt Hougan, who stated in a Sept. 9 memo to buyers that “Solana season” might echo the dynamics that drove Bitcoin and Ethereum to a number of new all-time highs.
“When demand exceeds provide, costs sometimes go up,” he wrote.
A number of main issuers, together with Grayscale, VanEck, Constancy, and Franklin Templeton, have filed for spot Solana ETFs, with the Securities and Alternate Fee (SEC) rulings due by October 10.
On the identical time, Galaxy Digital, Soar Crypto, and Multicoin Capital have pledged $1.65 billion to Ahead Industries, a brand new publicly traded Solana treasury firm that may purchase and stake SOL at scale.
Ahead Industries has additionally named Multicoin co-founder Kyle Samani as chairman, positioning him to champion SOL publicly as certainly one of its “most articulate and constant promoters,” much like what Michael Saylor has achieved for Bitcoin and Tom Lee for Ethereum, Hougan stated.
With Solana’s $121 billion market cap a fraction of BTC’s $2.2 trillion and Ethereum’s $529 billion, even modest inflows might transfer the needle on SOL in outsized style, he urged.
Largest cryptos by market cap (Supply: CoinMarketCap)
He estimated that Ahead Industries’ deliberate $1.65 billion SOL purchase would have the identical impact as shopping for $33 billion value of Bitcoin.
“My suggestion? Maintain your eye on Solana within the coming months,” he stated.
The Recipe That Propelled BTC And ETH
Bitcoin soared from round $40K in January 2024, when spot Bitcoin ETFs have been launched, to a brand new all-time excessive of virtually $125K, he stated, earlier than including that the ETH worth additionally nearly tripled between April and August this yr below the identical circumstances.
There was a surge in demand throughout that interval as nicely. In these months, the Bitcoin community produced 322,681 BTC, whereas ETPs (exchange-traded merchandise) purchased over 1.1 million BTC.
In the meantime, the Ethereum community produced 388,568 ETH, whereas ETPs and companies acquired 7.4 million ETH, the Bitwise CIO famous.
“It’s no shock that the recipe works,” he stated. “It’s traditional provide and demand.”
🏛️ Sector Strikes:
🔹 Ahead Industries raises $1.65B in file Solana treasury deal (shares +128%)
🔹 SOL Methods authorised for @NasdaqExchange itemizing (ticker: STKE)
🔹 Galaxy Digital tokenizes SEC-registered shares on Solana
🔹 @Gemini rolls out Solana staking + USDC…— CoinMarketCap (@CoinMarketCap) September 10, 2025
However Solana Might Want A Catalyst To Match Bitcoin And Ethereum
Hougan warned although that company SOL purchases and attainable ETF launches alone received’t be sufficient to propel the altcoin’s worth to new all-time highs.
“There needs to be a basic cause for buyers to be concerned about these autos,” he wrote.
Hougan stated Ethereum solely took off when it grew to become clear that its community could be the principle beneficiary of the stablecoin increase.
Stablecoin market share by chain (Supply: DeFiLlama)
For Solana, Hougan believes the main draw will probably be its a lot greater speeds and considerably decrease charges in comparison with each Bitcoin and Ethereum.
He known as the Solana blockchain a programmable community constructed for stablecoins, tokenized property, and decentralized finance (DeFi).
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