Solana Price Holds Firm Above $135 as CoinShares Halts U.S. ETF Plans

Solana, a prominent cryptocurrency, has demonstrated resilience by maintaining its value above $125, despite a mild decline of approximately 2.5% in the last day. Over the prior week, the digital asset has witnessed an appreciation of nearly 7.5%, signaling optimism among investors.

In a development that has introduced an air of uncertainty among market participants, CoinShares, a leading asset management firm with $11 billion under its stewardship, announced the withdrawal of its applications for spot Exchange-Traded Funds (ETFs) focusing on Solana, XRP, and Litecoin. This unexpected move has led to speculation surrounding the future trajectory of these digital currencies.

The interest in Solana remains robust, as evidenced by a 13.8% increase in its 24-hour trading volume, which reached $3.98 billion. The overall cryptocurrency market, however, has experienced a decline of 1.3% over the past day, continuing a 30-day trend of an 18.5% decrease.

### Abandonment of Solana ETF Plans by CoinShares

CoinShares’ recent decision to halt the launch of its three U.S.-focused crypto ETFs — specifically targeting Solana, XRP, and Litecoin — was made on November 28, 2025. The organization cited difficulties in establishing these funds as the primary reason for retracting its registration statements with the U.S. Securities and Exchange Commission (SEC). This development was unexpected and has left many traders concerned about the regulatory environment surrounding crypto-based financial products.

### Rising Corporate Confidence in Solana

In a contrasting development, corporate treasuries have significantly increased their holdings of Solana (SOL) tokens, with the numbers surpassing 17 million tokens in recent months. This uptrend began toward the end of summer 2025 and has seen a notable acceleration throughout November. This growing accumulation reflects a burgeoning confidence in the long-term potential and stability of Solana, signaling increased institutional interest in the asset. Data further reveals that these entities have consistently bolstered their positions month after month, reflecting continued enthusiasm and trust in Solana’s prospects.

### Current Solana Market Dynamics

As of the latest overview, Solana is trading at approximately $135, exhibiting a marginal increase of 0.05% within the past 24 hours. Analysts are observing a consolidation phase where Solana’s price fluctuates between $125 and $135. Technical indicators such as the Relative Strength Index (RSI) remain near 46, suggesting a balanced market without significant buying or selling pressures. Similarly, the Moving Average Convergence Divergence (MACD) is showing neutrality, with the MACD line hovering marginally below the signal line, and the histogram oscillating in a mixed zone.

### Future Possibilities for Solana’s Price Movement

The forecast for Solana is that it might encounter substantial resistance as it approaches the $150 level. A rise beyond the $135 zone could potentially lead to greater gains, whereas failure to maintain momentum could result in the cryptocurrency testing its lower support levels. Immediate support is identified around $125, and maintaining this level is critical for preventing further downside risk. Investors are advised to keep an eye on these price levels for any signals of potential market movements.

The absence of CoinShares’ ETFs will likely have an influence on the demand for cryptos like Solana among institutional investors. However, the ongoing interest from corporate treasuries suggests a potentially solid foundation laid for future growth. Should the regulatory infrastructure surrounding cryptocurrency-based financial products become more supportive, we might witness a resurgence in institutional interest in such products, potentially driving further upward momentum in the market.