Even as Bitcoin wavered, institutions flocked to Solana…Spot ETF and RWA growth noted

▲ Bitcoin (BTC), Solana (SOL), ETF, Wall Street/AI-generated image ©

Solana (SOL) continues its attempt to rebound, holding the key support level of $84 amidst Middle East risks and Bitcoin's weakness. In particular, the expansion of the Real World Asset (RWA) market and the staking yield structure of spot ETFs are attracting institutional funds, reigniting long-term bullish sentiment.

According to investment media TradingNews on May 26 (local time), Solana traded around $85 on the day, maintaining above the 50% Fibonacci retracement support level of $84.65. While SOL has fallen 11.9% in the past week, its trading volume has remained between $3.98 billion and $4.76 billion per day, suggesting active position adjustments rather than a mere sell-off. SOL is currently down about 71% from its all-time high of $293.31 recorded at the end of last year.

The media analyzed that the recent re-escalation of tensions between the US and Iran is weighing on the broader cryptocurrency market. Following the US airstrike on an Iranian vessel, the Dollar Index (DXY) rose to 99.27, and Bitcoin was pushed into the $76,000-$77,200 range. Furthermore, $1.26 billion flowed out of Bitcoin spot ETFs over the past 5 days, and $430 million flowed out of Ethereum spot ETFs over 8 days, adding pressure to the altcoin market. However, Solana spot ETF fund flows were reported to be relatively stable.

The market is paying attention to the rapid growth of the Solana-based Real World Asset (RWA) market. The total value locked (TVL) in RWA on the Solana network recently hit an all-time high of $2.8 billion. Major financial institutions such as BlackRock and Franklin Templeton are also reportedly expanding their use of the Solana ecosystem for managing tokenized assets and money market funds. The media commented, “From the perspective of institutional investors, Solana's ability to process 65,000 transactions per second and its low fee structure are powerful competitive advantages.”

The spot ETF structure was also cited as a bullish factor. Solana spot ETFs currently trading in the US market adopt a structure that provides investors with staking yields of 5-7% annually. This is considered a differentiating point compared to existing Bitcoin spot ETFs and Ethereum spot ETFs, which had limited staking functionality. The competitiveness of the development ecosystem is also maintained. As of 2025, Solana ranks second globally in terms of developer activity, following Ethereum.

Technically, whether the $84.65 support level holds will determine the short-term direction. If this level is maintained, a retest of $90 after breaking $87 becomes possible, but if $79 collapses, further declines to $70 and $65 are also mentioned. The media reported that various bullish scenarios exist, from analyses suggesting a target price of $150 for Solana in 2026 to a long-term average forecast of $445.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*