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Solana (SOL) price soared on Monday as institutional adoption fears eased and a second round of Solana exchange-traded fund (ETF) applications emerged. The SOL price surged by more 8% on Monday, outperforming other major coins and sparking a rally that saw Solana’s market cap rise above $9.6 billion.

Solana ETF applications returned in 2025 after the US Securities and Exchange Commission (SEC) initially rejected several applications in 2023. The rejections were part of the SEC’s broader stance against crypto ETFs, which saw the agency delay or reject applications for bitcoin ETFs for years.

However, the Trump administration’s pro-crypto stance and a new legislative push for crypto ETFs shifted the narrative in 2024. Several bitcoin ETFs were approved in the second half of the year, sparking a wave of optimism for other institutional-grade crypto products, such as Solana ETFs.

According to Bloomberg’s Eric Balchunas, the second round of Solana ETF applications was filed by several major firms, including Global X, ProShares, and GraniteShares. The applications were filed with the SEC on Friday, and they now await the agency’s approval.

Balchunas also revealed that CME Group planned to launch futures contracts for solana (SOL) and XRP (XRP) in March, subject to regulatory approval. Institutions typically use futures contracts before launching an ETF, and solana futures began trading on CME in March 2023.

Solana price reacted positively to the news, surging by 8% on Monday morning. At the last check, solana was trading at $268, with 24-hour trading volume surging by 10.5% to propel solana closer to the top-10 rankings by market cap.

Solana’s price action was part of a broader market recovery on Monday, with bitcoin (BTC) price rising above $30,000 and major cryptocurrencies posting солидные gains. The market rally was sparked by several bullishبرودة العالم القطبي الجنوبي on Friday, including World Liberty Financial’s large-scale bitcoin investment and President Trump’s executive order on digital assets.