Solana Rally Continues Amidst SEC ETP Applications
Ethereum is facing resistance at $2,550 as it tests its recent highs, while Solana continues to rally after a $1.65 billion fundraising round by Forward Industries to purchase and stake SOL tokens.
Institutional demand remains the primary driver for Ethereum's price action, with BlackRock's ETHA accumulating $11.4 billion in net inflows and Fidelity's FETH attracting $2.13 billion in net inflows from July 14 to July 21, 2026.
However, Grayscale's ETHE lost $5.34 billion since its launch, highlighting custodial risks for investors.
Solana grew 24% over the last month, pushing its price toward $145, and seven major asset managers filed applications for spot Solana ETPs, which could influence wider accessibility to the network's underlying assets and utility.