Anchorage & Bybit Launch bbSOL Institutional Custody Solution
Bybit has partnered with Anchorage Digital to launch bbSOL institutional custody, offering segregated wallets, insurance coverage and compliance oversight for bbSOL, Bybit’s Solana-based liquid staking token. The bbSOL institutional custody solution enhances security and regulatory adherence, meeting growing demand from professional investors and strengthening market confidence. Bybit leverages this partnership to boost liquidity and on-chain yield opportunities without locking SOL, allowing institutions to earn staking rewards seamlessly. Solana (SOL) trades around $195, up 0.3% daily and 4% weekly with a market cap above $107 billion. Analysts remain bullish: one forecasts a break above $194 support could trigger a rise to $295–$400 via a five-wave Elliott impulse, while another notes that sustained closes above $260 may spark an explosive rally. This collaboration is set to accelerate institutional adoption of bbSOL and support both short-term momentum and long-term market stability.
Bullish
The partnership between Bybit and Anchorage Digital to provide bbSOL institutional custody addresses key institutional concerns—security, insurance and compliance—thereby lowering entry barriers for professional investors. Enhanced custody solutions typically drive higher institutional demand and liquidity, which supports upward price momentum for bbSOL and SOL. Coupled with bullish technical forecasts—analysts point to potential rallies to $295–$400 if critical resistance levels are breached—the news is likely to boost short-term trading activity. Over the long term, robust custody infrastructure underpins sustained market confidence, suggesting continued accumulation and price appreciation for Solana-based assets.