Solana Season Next? Bitwise CIO Eyes ‘Epic’ Q4 Run Fueled By Corporate Demand
As Solana (SOL) faucets the $225 barrier, Bitwise’s CIO forecasted {that a} bullish Q4 rally is likely to be brewing for the altcoin if it follows Bitcoin (BTC) and Ethereum’s (ETH) recipe.
Solana To Follow BTC, ETH’s Recipe?
On Tuesday, Matt Hougan, CIO at Bitwise, affirmed in a brand new memo to purchasers that the recipe for sturdy returns has been clear over the previous 18 months: “Take one half ETP inflows, add sturdy company treasury purchases, and voilà—you get huge returns.”
Hougan defined that BTC adopted this recipe since January 2024, whereas ETH found the identical system in April 2025. “It’s no shock that the recipe works. It’s basic provide and demand,” he acknowledged, including that “all of the substances are there for an epic end-of-year run for Solana.”
As the CIO highlighted, a number of issuers, together with Bitwise, Grayscale, and VanEck, have filed to launch spot SOL exchange-traded merchandise (ETPs), that are anticipated to be accredited firstly of Q4.
As reported by NewsBTC, the US Securities and Exchange Commission (SEC) introduced final month that it had pushed again its resolution on Bitwise, 21Shares, VanEck, Grayscale, and Canary Capital’s spot SOL exchange-traded funds (ETFs) for 2 months, pushing it to October 16, 2025, “which means we could have a number of issuers pushing spot Solana ETPs in Q4.”
Meanwhile, three main companies, Galaxy Digital, Jump Crypto, and Multicoin Capital, just lately secured $1.65 billion in money and stablecoins to launch a publicly traded SOL-focused treasury firm, Forward Industries, to buy SOL, stake it, and generate extra return.
Hougan additionally famous that Forward Industries named Kyle Samani, who has been among the many cryptocurrency’s most constant promoters, as chairman. To Bitwise’s CIO, if Samani can “carry the Solana message” like Michael Saylor and Tom Lee have carried out with Bitcoin and Ethereum, it’ll assist drive investor demand.
SOL’s Secret Ingredient
Hougan identified that the existence of ETPs and treasury corporations doesn’t assure demand, including that there have to be basic causes for traders’ curiosity in these autos.
“Solana is an Ethereum competitor,” he asserted, “it’s a programmable blockchain designed to host stablecoins, tokenized belongings, and decentralized finance purposes, amongst different issues.”
The blockchain just lately accredited a serious technical improve that can make it one of many quickest networks on the planet. Additionally, additionally it is third in stablecoin liquidity amongst programmable blockchains and fourth in tokenized belongings, recording fast development on this sector.
Nonetheless, he argued that there’s a key difference between SOL and the 2 main cryptocurrencies. While Bitcoin’s market capitalization sits round $2.2 trillion, and Ethereum’s is close to the $530 billion mark, Solana’s market capitalization is round $120.8 billion, 1/twentieth the scale of BTC and fewer than 1/4th the scale of ETH.
“Scaled for the scale of the blockchain, a comparatively small quantity of flows into Solana might considerably affect costs,” Hougan defined.
He detailed that Forward Industries’ $1.6 billion buy of SOL shares could be the equal of $33 billion in BTC purchases, noting that this could possibly be barely offset by Solana’s increased annual inflation charge of 4.3%, versus Bitcoin’s 0.8% and Ethereum’s 0.5%.
“The setup remains to be engaging,” he concluded, suggesting that traders maintain their eyes on Solana within the coming months.
As of this writing, Solana is buying and selling at $222, a 5.1% enhance within the weekly timeframe.
