Key points to remember:
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Solana Spot ETFs are off to a strong start attracting over $400 million in weekly inflows.
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SOL broke its 211-day uptrend, sliding below key moving averages.
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Failure to hold $155 could push SOL price into the $120-$100 range.
Spot Solana (GROUND) exchange-traded funds (ETFs) are off to a strong start to their trading journey, seeing record positive inflows that highlighted institutional demand for the network’s native asset.
Monday, SOL ETF spot recorded a daily high of $70 million in inflows, the strongest since its launch, bringing total spot ETF inflows to $269 million since its October 28 debut.
Data from Bitwise noted that two Solana ETFs, Bitwise’s BSOL US Equity and Grayscale’s GSOL US Equity, collectively attracted $199.2 million in net inflows (excluding seed capital) in their first week.
Bitwise’s BSOL ETF led the charge, amassing $401 million in assets under management (AUM) as of October 31. This figure represented more than 9% of total global SOL ETP assets and 91% of global SOL ETP flows last week. In contrast, Grayscale’s GSOL US Equity attracted only $2.18 million, representing about 1% of total ETP flows.
Globally, weekly net inflows into Solana ETPs exceeded $400 million, marking the second highest weekly inflow on record. Bitwise’s Solana Staking ETF (BSOL) was also the best-performing crypto ETP globally, ranking 16th among all all-asset class ETPs for the week.
Currently, Solana ETP’s total assets under management stand at $4.37 billion, with US-listed products accounting for the majority of new investments. According to Bitwise estimates, a net inflow of $1 billion could equate to a potential 34% increase in the price of SOL, assuming a beta sensitivity of 1.5.
Related: Solana Treasury Forward Industries Authorizes $1 Billion Stock Buyback
Solana Price Breaks Key Downtrend: Will It Drop Another 20%?
Despite the record inflows, SOL price action turned sharply bearish this week, falling more than 16%, falling to $148.11 on Tuesday, its lowest level since July 9. The correction also broke a 211-day uptrend that began on April 7, with the $95 level serving as a yearly low.
Solana is currently testing a daily order block between $170 and $156, an area with limited support. The slowdown pushed the price below the 50, 100, and 200-day EMAs, signaling potential bearish confirmation on the daily chart.
While liquidity lows around $155 are currently being tested, SOL could stage a mean reversion recovery if buyers defend this zone, especially as the Relative Strength Index (RSI) hits its lowest level since March 2025.
However, acceptance below $160 and failure to hold $155 could expose the next downside target between $120 and $100, marking a deeper correction phase unless a near-term rebound materializes soon.
Related: Hawkish Fed Triggers $360 Million in Crypto Outflows as Solana ETFs Reverse Trend
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making a decision.
