Solana: ETF Momentum Could Drive Next Rally
It is not the first time Bitwise executives have hyped up Solana. Speaking with Cointelegraph at Token2049 in Singapore last week, Bitwise CEO Hunter Horsley said that Solana may gain an edge over Ethereum in the staking exchange-traded fund (ETF) market, citing its design as more favorable for investors.
The company offers a fund called the Bitwise Physical Solana ETP that provides investors with exposure to SOL through a fully backed, physically held structure with institutional-grade custody. Interest in this area has been muted compared to BTC or Ether-based ETFs, with just $30 million in assets under management, according to Bitwise.
The firm also has a spot Solana ETF waiting in the SEC approval queue with the final decision due on Oct. 16. SOL prices were trading down 2% on the day at $227 at the time of writing. The asset remains down more than 22% from its January 2025 all-time high.
He said that Solana’s unstaking period is much faster than Ethereum’s, which is important because “ETFs need to be able to return assets on a very short time frame. So this is a huge challenge.”
Avalanche: Treasury Company Sparks Price Surge
The price of AVAX, the native token of the Avalanche blockchain, jumped after a newly formed company announced its plans to go public in the US and purchase over $1 billion worth of the token. The company, Avalanche Treasury Co., said on Wednesday that it would merge with the special purpose acquisition company (SPAC) Mountain Lake Acquisition Corp. in a deal valued at over $675 million.
The merged company anticipates listing on the Nasdaq in the first quarter of 2026 under the ticker symbol “AVAT,” pending regulatory and shareholder approval. Emin Gün Sirer, the founder and CEO of the Avalanche blockchain development firm Ava Labs, will join the company as an adviser. The business will be the second so-called treasury company focused on Avalanche, joining a herd of companies going public or pivoting to buying and holding cryptocurrencies this year.
Avalanche Treasury Co. said it has an “exclusive relationship” with the Avalanche Foundation, an organization that supports the blockchain, which had reportedly planned to sell millions of Avalanche tokens at a discounted price to treasury companies.
The treasury company said it plans to own more than $1 billion worth of AVAX after it goes public next year, and its initial capital raise “will result in approximately $460 million in treasury assets funded.”
Kaspa: High-Throughput Layer-1 Blockchain
Kaspa is trading at approximately $0.075 to $0.08, with fluctuations mirroring those of the broader market. Recently, prices have fallen under pressure. It was predicted that the price could drop to about $0.058 in the near term. The price may receive support if it holds near $0.072 to $0.075. If the support holds and buyers step in, it may rebound to around $0.09 or $0.10. The volume of trade has increased now, with the market price at a neutral RSI.
Kaspa is receiving popularity because the Layer-1 blockchain uses the GHOSTDAG protocol, which ensures scaling through parallel block creation. The project is highly recognized for strong developer growth and community governance (no VC and no pre-mining). Also, its claim to fame is high throughput. So, it is a strong project for 2025, but very high risk.
