Positive News Barrage Hits Solana: Analyzing ETF and PayPal Moves

Solana (SOL) rallies ~6% near $121, fueled by Grayscale ETF filing & PayPal news Grayscale files with SEC to convert GSOL trust into a spot Solana ETF on NYSE Arca SOL holds key $100-$115 support zone; analysts eye $186+ breakout potential Solana (SOL) regained focus Saturday, rising nearly 6% over 24 hours to trade near $120 as positive news developments converged on a critical technical support zone. Futures market sentiment also turned decidedly bullish, with analyst Ali Martinez reporting 71.4% of Binance traders holding long Solana positions. 71.40% of traders with open #Solana $SOL futures positions on Binance are betting on a price increase! pic.twitter.com/iHMwKr47OW — Ali (@ali_charts) April 5, 2025 Grayscale Files for Spot Solana ETF Conversion (GSOL) Fueling bullish sentiment, Grayscale Investments filed a registration statement with the SEC on Friday seeking to convert its Grayscale Solana Trust (GSOL) into a spot Solana ETF listed on NYSE Arca. This move mirrors Grayscale’s successful conversions for Bitcoin and Ethereum products. Market observers consider Solana a strong candidate for eventual spot ETF approval, citing its establ… The post Positive News Barrage Hits Solana: Analyzing ETF and PayPal Moves appeared first on Coin Edition .