🚨 $NEAR ETF isn’t necessarily a repeat of what happened with $SOL .

Yes, both rallied hard before getting a spot ETF:

→ SOL: roughly 24x from cycle lows
→ NEAR: roughly 5x

The easy narrative is: “SOL sold off after its ETF, so NEAR will do the same.”

But the timing is completely different. 👇

When BSOL launched in October 2025, SOL was around $195 and the cycle’s momentum was already fading. Solana DEX activity had fallen sharply from its January peak.

NEAR is entering its ETF phase around $5, still roughly 75% below its 2022 ATH, while network activity is moving in the opposite direction.

📈 NEAR Intents processed $300M+ in a single day on Sept. 18
📈 September became its strongest fee month of the year
💰 NRR attracted $35.5M on day one

And the relative scale matters.

$35M flowing into an asset worth roughly $6.5B is a much bigger demand shock than similar ETF flows into an asset around $100B.

So I think the comparison is backwards:

SOL ETF arrived after the run.
NEAR ETF is arriving while the story is still developing.

That doesn’t mean NEAR can’t pull back. An ETF is not a price floor.

But this isn’t necessarily the same setup repeating.

Solana’s ETF showed up for the victory lap.
NEAR’s showed up for lap one. 🏁