SOL Spot ETFs Extend Outflows to $4.8M on 7 October
US spot SOL ETFs recorded net outflows on both 6 and 7 October, with withdrawals increasing from $3.6849 million to $4.8 million, according to SoSoValue. On 6 October, Grayscale Solana Trust (GSOL) saw $3.7455 million in outflows, partly offset by a $60,500 inflow into Invesco Galaxy Solana ETF (QSOL). On 7 October, Bitwise Solana Staking ETF (BSOL) accounted for the entire $4.8 million outflow. Despite the two-day selling, cumulative net inflows across US spot SOL ETFs remained around $1.59 billion; BSOL’s cumulative inflows stood at $1.208 billion. Total ETF net assets fell from $1.934 billion on 6 October to $1.854 billion on 7 October, representing 2.71% of SOL’s net assets on the latter date. The consecutive outflows suggest near-term caution, while the strong cumulative inflows indicate longer-term demand remains positive.
Neutral
The two consecutive days of net outflows, with the daily withdrawal rising to $4.8 million on 7 October, point to near-term caution around SOL and could add modest selling pressure if traders interpret the flows as weakening demand. However, the reported outflows are small relative to the approximately $1.59 billion in cumulative net inflows, and the data alone does not establish a sustained reversal. Historically, short runs of ETF outflows can affect sentiment and trading in the short term, but their price influence may fade if broader demand remains firm. The overall signal is therefore mixed: short-term flows are a mild headwind for SOL, while cumulative inflows offer a counterweight. This supports a neutral assessment rather than a clear directional price signal.