Solana Holds $176 Amid ETF Filing And Tokenized Fund Buzz

Solana (CRYPTO: SOL) is currently trading at $176.07, after a surge of 2.86% over the past 24 hours. SOL touched a high of $177.39, and dipped to a low of $166.30 during the day. The price action comes amid the filing of the first US Solana ETF, a $785 billion tokenized credit fund on Solana, and the upcoming launch of Solana Mobile's Seeker phone with native token airdrops.

Canary Digital has filed for a US-listed Solana ETF with the SEC, becoming the first in the US to integrate staking solution as a part of its offering. Marinade Finance will serve as the staking provider for the ETF, using its Marinade Select platform to manage institutional-grade staking operations.

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Built with SOC 2-compliant, non-custodial infrastructure, Marinade Select ensures institutional security standards and decentralization by delegating to a curated set of 30-40 KYC-verified validators.

Pantera Capital's head of policy, Brian Santori, contended that ETFs offer passive exposure pointing to DeFi Development Corp.'s (NASDAQ:DFDV) Solana-focused strategy, emphasizing the value of active participation.

During an X space, formerly Twitter Inc. (NYSE:TWTR), hosted by The Block, Santori explained, "Staking is the foundational strategy, which ETFs currently cannot offer." DeFi Development Corp. currently holds 400,091 SOL, after an initial investment of $9.6 million in April. The firm revealed plans to purchase a Solana validator business for $3.5 million to enable self-staking of its SOL holdings.

Apollo, a DeFi platform for private credit, announced the launch of Acred, a tokenized fund managing $785 billion in assets, built on the Solana network. It marks one of the largest real-world asset integrations into DeFi to date, underscoring Solana's ability to handle institutional-grade throughput and compliance.

Following the complete sellout of its Saga phone, Solana Mobile is set to launch its second crypto-native smartphone, the Seeker, in August. The phone will include a native token, SKR, created to synchronize incentives across users, developers, and hardware producers.

Emmet Hollyer, general manager at Solana Mobile, said the goal is to empower participants as active stewards rather than passive consumers in the mobile ecosystem. According to Solana Labs CEO, Anatoly Yakovenko, the mission is a bold effort to build a top-tier decentralized mobile platform that can rival tech giants like Google and Apple.

Solana has climbed from the support at $165 and pushed past resistance at $170 and $172. SOL is trading above $172 and the 100-hour SMA, with a bullish trendline support near $170. Resistance is expected around $178, with further barriers at $180 and $185. A breakout above this can propel Solana toward $192 and possibly $200. Support is at $174.50, and a drop below $170 may trigger SOL testing $162.

With growing traction in ETFs, tokenized assets, and mobile advancements, Solana could be laying the groundwork for a bullish breakout.

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