Vanguard, the world”s second-largest asset management firm, has made a significant shift by allowing its clients to invest in cryptocurrency exchange-traded funds (ETFs) and mutual funds. This move follows a previous ban on crypto investments and opens up access to approximately 50 million clients, potentially transforming the market landscape.
On the day of Vanguard”s announcement, Solana ETFs witnessed inflows totaling $46.7 million, marking the continuation of a robust 22-day streak of institutional buying activity. Currently, U.S. spot Solana ETFs have accumulated over $650 million in total inflows, a remarkable feat that underscores growing institutional interest in Solana amid a challenging market environment.
November was notably a difficult month for cryptocurrencies, yet traditional finance investors took the opportunity to increase their positions in Solana as prices declined. The recent influx of capital coincides with the launch of Franklin Templeton”s Solana ETF, known as SOEZ, which aims to meet the rising demand for crypto investments.
From a technical perspective, Solana is forming a double bottom pattern at the $120 support level, a critical point that has previously marked local bottoms in this market cycle. Analysts note that the relative strength index (RSI) is testing the neutral line after spending two months in oversold territory, indicating potential bullish momentum. The Chaikin Money Flow indicator shows a positive buying pressure at 0.08, while the MACD indicator remains favorable, with the MACD line positioned above the signal line.
A breach above the $144 neckline could confirm the double bottom pattern, with targets suggesting a potential move to $210 based on this technical formation. Currently, Solana is trading at $142, reflecting a 2% increase, which aligns with renewed institutional interest.
In the decentralized finance (DeFi) space, Solana has maintained its dominance, recording $4.16 billion in trading volume over the past 24 hours on decentralized exchanges (DEXs). This performance highlights Solana”s appeal as a platform for users and developers engaging in DeFi applications. Further enhancing its ecosystem, Solana Mobile plans to launch its SKR native token in January 2026, which has already contributed to a 4% price increase for SOL.
Key support levels for Solana are identified at $130 and $120, while resistance is seen around the $150 zone, with the next price target positioned at $170. The overall cryptocurrency market is displaying signs of recovery, with Bitcoin approaching the $100,000 mark and Ethereum remaining above $3,000.
This pivotal moment in Vanguard”s policy could be a game changer for the crypto market, particularly for Solana, as institutional interest continues to grow.
