Gray updates Solana ETF proposal to provide pledge rewards to shareholders

Solana's technical aspects and institutional dynamics have been boosted

Solana (SOL) has once again attracted market attention due to the dual impact of technical indicators and new institutional dynamics. Recently, many analysts have pointed out that bullish divergences in the Relative Strength Index (RSI) have occurred during continuous trading hours, suggesting that the trend may reverse as selling pressure weakens and buying interest increases.

Technical Outlook: Bullish signals appear

Traders are closely monitoring Solana's price movements after analysts, including a well-known person named "curb", spotted weekly RSI bullish deviations. This technical pattern usually signals a possible reversal in asset trends when downward momentum recedes but price levels remain resilient.

As of press time, SOL was trading at US$74.79, with a 24-hour trading volume of US$1.31 billion, and a market value of US$43.56 billion. After recent fluctuations, SOL's price structure shows signs of stabilization.

Analysts pointed out that if there is stronger buying activity and stable trading volume in subsequent trading sessions, it may confirm a reversal and support Solana's further rise. Some market experts estimate that if the current bullish trend continues, SOL may eventually hit or even break the $1000 mark in the long-term upward trend. Although these forecasts are speculative, they are based on observed growth indicators and current market sentiment.

Institutional News: Grayscale updates Solana ETF proposal

Asset manager Grayscale, known for its crypto-related investment products, has submitted its latest revision proposal to its Solana pledge ETF with the U.S. Securities and Exchange Commission (SEC). The new trust agreement introduces a framework for allocating pledge rewards directly to shareholders-a development that could appeal to institutional investors seeking both price increases and returns.

Under the revised plan, pledge income generated by the fund's holdings of Solana will be converted into cash and distributed to ETF shareholders at least quarterly after deducting operating costs. Adjustments at the operational level will also help the trust implement pledge activities and corresponding distribution plans. The actual dividends to shareholders will be calculated based on the actual awards (after deducting expenses) incurred during the period.

Background note: Grayscale is a digital asset management company known for launching one of the earliest cryptocurrency investment trust products targeted at retail and institutional investors.

Comparison of proposals:

The old version of Solana ETF: The allocation method of pledge rewards was not clearly stated; the new version of Solana ETF: The pledge rewards were paid to shareholders in cash every quarter. The old version did not mention the mechanism of pledge income; the new version clearly converts income into cash for dividends.

Market Reaction and Future Outlook

As technical and institutional catalysts appear one after another, SOL has shown resilience and prices have shifted from bearish to neutral. The broader cryptocurrency market appears to be regaining momentum, and if this positive trend continues and sufficient buying volume appears, SOL is expected to approach new highs.

Traders and investors are expected to focus on key resistance levels and track the movements of large holders, commonly known as "whales", to assess upside potential. The approval status of Grayscale's pledge ETF proposal remains a key variable; progress in regulatory approval may strengthen institutional sentiment and further consolidate Solana's market position.

As the Solana ecosystem evolves and institutional interest heats up, many are watching closely whether these dual forces can help the asset break through its current range and embark on a new upward trajectory. The direction of SOL in the coming period will largely depend on its ability to overcome key resistance levels with strong buyer volume and the regulatory outcomes faced by Grayscale's ETF program.