- Solana broke out above $162 as $250M in USDC was minted and ETF flows hit $69.7M in early institutional demand.
- Upexi is raising $200M to expand its Solana holdings to 1.65M SOL, showing firm corporate confidence in the asset.
- Volume is climbing fast while structure holds clean, with Solana now targeting $295.83 in the next leg higher.
Solana is gaining strong institutional traction following a $250 million USDC mint and $69.7 million in ETF inflows. At the same time, Upexi has launched a $200 million capital raise to expand its Solana treasury to 1.65 million SOL.
$250M USDC Mint on Solana Confirms Institutional Movement
A new $250 million USDC mint was confirmed on the Solana network in block #352637546. According to Arkham, the transfer was executed by Circle’s USDC Mint Authority and cost only 0.00031 SOL, or $0.05. The transaction used 6,301 compute units and was labeled “MintTo,” confirming it as newly issued stablecoins.
This direct mint to a Circle-linked address confirms authorized issuance and shows no wallet-to-wallet movement. Moreover, the low fee reinforces Solana’s stablecoin efficiency, especially for high-value transactions. It’s a signal of growing institutional trust in Solana’s infrastructure.
Upexi Announces $200M Raise to Expand SOL Holdings
Upexi is raising $200 million to expand its treasury from 735,692 SOL to 1.65 million SOL. According to a report by Emilio Bojan, the raise includes $50 million from a stock sale and $150 million through a securities agreement. These funds will push the company’s Solana holdings to nearly $273 million at current market prices.
This new funding is backed by Big Brain Holdings and includes participation from CEO Allan Marshall. Upexi’s initial Solana exposure began with a $100 million PIPE deal in April, led by GSR. The firm also plans to tokenize its equity using Superstate’s Open Bell platform, anchoring further on-chain utility.
ETF Inflows Signal Stronger Institutional Positioning
REX-Osprey’s Solana ETF has attracted $69.7 million in inflows since launching. The fund seeded with $0.6 million and saw consistent capital injections between July 3 and July 9. According to BitBull, daily inflows peaked at $33.5 million before a single-day outflow of $15.7 million on July 10.
However, inflows resumed immediately with $10.7 million added on July 11, reinforcing continued institutional demand. The ETF carries a 0.75% fee and remains the only live Solana ETF in the market. These consistent allocations reflect confidence in Solana as a long-term investment vehicle.
Breakout Structure Targets $295 as Volume Builds
Solana has broken above a descending trendline that held since February 2025. Price action reclaimed the $162 level with volume confirmation, indicating trend reversal. A measured move now projects upside toward $295.83, matching the range before the previous breakdown.
Technical alignment is clear, with higher lows, increasing momentum, and institutional inflows all reinforcing the breakout. At $166, Solana trades with a 5.7% daily gain and over $15 billion in volume. This setup restores bullish structure and pushes the next target into view.
