Why October 10 Could Be a Game-Changer for Solana

October 10 could well mark a turning point for Solana. Bitwise CIO Matt Hougan sees this deadline as a catalyst comparable to the movements that propelled Bitcoin and Ethereum in recent months. Should we prepare for a “Solana season”?

Solana Could Turn Everything Around From October 10

Matt Hougan, Chief Investment Officer of Bitwise, doesn’t beat around the bush: for him, October 10 could be the starting point for a Solana surge. 

This date corresponds to the deadline set by the SEC to decide on several Solana Spot ETF requests, notably those from Bitwise, Grayscale, VanEck, Fidelity, and Invesco. 

If approvals come through, Solana would join the very exclusive club of cryptocurrencies with exchange-traded products, alongside Bitcoin and Ethereum.

The argument put forward is based on a proven mechanism: the alliance between ETF flows and corporate treasury purchases. Hougan reminds us that Bitcoin rose from $40,000 to over $110,000 in a few months thanks to massive ETF flows. Ethereum replicated this pattern in spring 2025. 

In this context, Solana, whose market capitalization remains much smaller, could experience an even greater impact in the event of an influx of institutional capital.

Adding to this dynamic is a new element: the creation of a new listed company, Forward Industries, which already holds $1.65 billion in cash and stablecoins. The stated goal is clear: to buy SOL, stake it, and generate additional yields. 

Behind this investment vehicle are top players such as Galaxy Digital, Jump Crypto, and Multicoin Capital. Needless to say, institutional appetite is only confirmed.

The Fundamentals of a Network on the Rise

Beyond financial flows, Solana’s technical fundamentals work in its favor. The network has established itself thanks to its processing speed and negligible fees, two essential characteristics for hosting stablecoins, tokenizing assets, and developing DeFi.

A major technical update is set to revolutionize performance: transaction finality will go from 12 seconds to just 150 milliseconds. This drastic improvement significantly boosts Solana’s appeal for institutional applications.

Adoption figures confirm this positive momentum. Solana now ranks third worldwide for stablecoin liquidity, while tokenized assets on its network have exploded by 140% in 2025. 

Admittedly, SOL has a more inflationary profile than Bitcoin or Ethereum, with an annual issuance of 4.3%. However, this dilution could be largely absorbed by massive capital inflows via ETFs and corporate treasury strategies.

As October 10 approaches , the issue becomes clear: if the SEC approves the first Solana Spot ETFs, the asset could establish itself as the breakout of fall 2025, much like Bitcoin and Ethereum during their respective regulatory breakthroughs.

In short, Solana is at a pivotal moment. Between significantly improving fundamentals and growing interest from major institutions, all the ingredients seem in place to pave the way for a true “ Solana season “.