Key Insights:
- Institutional interest in Solana grows as ARK Invest buys $5.2 million of SOLQ ETF.
- The Solana price chart shows breakout potential at $144.
- Rising open interest hints at upside momentum for SOL.
The Solana (SOL) price fell 0.4% in the past 24 hours to $139.54, after a 5.9% gain in the last 7 days. Meanwhile, ARK Invest’s entry into a Solana-based ETF has drawn institutional eyes to the altcoin, suggesting increasing confidence in Solana as a legitimate crypto investment vehicle.
Solana Price Gains 5% in a Week as ARK Invest Buys SOLQ ETF
On April 21, Cathie Wood’s ARK Invest made its first direct Solana exposure via Canada’s 3iQ Solana Staking ETF (SOLQ). According to recent filings, ARK’s ARKW and ARKF ETFs acquired 500,000 shares of SOLQ, worth $5.2 million.
This move places Solana among ARK’s portfolio, alongside major tech names like Nvidia, Unity Software, and Qualcomm—indicating a strategic bet on blockchain adoption. The SOLQ fund allows institutional investors to stake SOL and earn yield while gaining exposure to Solana’s price action.
With ARKW and ARKF becoming the first U.S.-listed ETFs to hold Solana exposure, the move represents a milestone in institutional recognition of the blockchain’s potential. And with the SOL price already trending upward, ARK’s vote of confidence could accelerate a broader rally.
SOL Price Chart Analysis: SOL Ready to Pop?
The 1-day Solana price chart is at a pivotal point. The price has been downtrend since January 19, 2025, with lower highs and lower lows. A bearish death cross (when the 50-day SMA crosses below the 200-day SMA) confirmed in mid-March added to the bearish vibes.
But here’s the twist: SOL is retesting a major support level at $144, which it broke earlier. If SOL can reclaim this level and print a higher high, it could be looking at a trend reversal.
The chart also shows a potential inverted double-bottom pattern forming, a classic bullish setup. If this plays out, SOL could be gearing up to smash through resistance around $144 (neckline) and aim for new yearly highs. The bulls are pushing, and ARK’s move might just be the catalyst they need.
However, investors should monitor for confirmation of the breakout, watch for resistance rejection, and consider broader market conditions. A rejection at the current price level would result in the price retesting the $95.33 low.
Bullish Traders Are Holding the Line
Solana season could be coming up shortly as the derivatives market is giving more reasons to be hyped. Data from the Coinglass liquidation map shows that cumulative long liquidation leverage ($1.02 billion) exceeded corresponding shorts ($412 million) by 142% over the past 7 days.
This tug-of-war signals trader indecision, but the Long-to-Short Ratio is slightly bullish at 1.0096, meaning more folks are betting on Solana price going up. Open Interest (unsettled derivative contracts) is also climbing, and it’s mostly long traders driving the action.
This suggests the market is leaning toward a breakout to the upside. If the momentum keeps building, SOL could ride this wave higher, especially with big players like ARK jumping in.
Institutional Adoption Fuels the SOL Price Bullish Reversal
ARK Invest isn’t the only one hopping on the Solana train. Just hours before ARK’s move, Upexi Inc., a Nasdaq-listed company, raised $100 million to build a Solana-focused treasury strategy, led by GSR.
Upexi Inc. stock surged over 630% from $2.33 to $18.30 after the company announced plans to build a Solana-based crypto treasury. The stock has since retraced 46%, likely due to investors’ profit-taking.
With Solana’s high-performance blockchain, known for its speed and scalability—gaining traction, more companies are seeing it as a legit player in the Web3 space. And with ARK leading the charge, old money might finally start waking up to Solana’s potential.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
