Solana Etfs Show Strength, But Sol Price Lost Its Yearly Uptrend:...

Solana ETFs recorded over $400 million in inflows, but SOL’s price lost a key technical support, sparking fears of a drop toward $120.

The spot Solana ETFs start strong by drawing over $400 million in weekly inflows.

SOL broke its 211-day uptrend, slipping below key moving averages.

Failure to hold $155 could send SOL price into the $120–$100 range.

Spot Solana (SOL) exchange-traded funds (ETFs) start their trading journey with strength, posting record positive inflows that underscored institutional demand for the network’s native asset.

On Monday, spot SOL ETFs recorded a daily high of $70 million in inflows, the strongest since launch, taking the total spot ETF inflows to $269 million since its debut on Oct. 28.

Data from Bitwise indicated 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) during their first week.

Bitwise’s BSOL ETF led the charge, amassing $401 million in assets under management (AUM) by Oct. 31. That figure represented over 9% of total global SOL ETP AUM and 91% of global SOL ETP flows last week. In contrast, Grayscale’s GSOL US Equity drew only $2.18 million, accounting for roughly 1% of total ETP flows.

Globally, weekly net inflows into Solana ETPs surpassed $400 million, marking the second-highest weekly inflow on record. Bitwise’s Solana Staking ETF (BSOL) was also the top-performing crypto ETP globally, ranking 16th among all ETPs across asset classes for the week.

Currently, the total Solana ETP AUM stands at $4.37 billion, with US-listed products accounting for the majority of new investment. According to Bitwise’s estimates, a $1 billion net inflow could correspond to a potential 34% increase in SOL’s price, assuming a beta sensitivity of 1.5.

Source: CoinTelegraph