Solana ETFs draw $39M inflows as SOL rallies 15%, OI jumps
Solana ETFs saw strong demand, with spot SOL ETF inflows totaling about $39M for the week as SOL rose roughly 15%. Reported figures include total spot SOL ETF volume near $1.06B and a sharp pickup in futures positioning: Solana futures open interest rose from about $4.94B to $6.4B (over $6B).
Institutional flows led by Bitwise’s BSOL added around $36M in net inflows (about 81% of total spot SOL ETF volume), while Fidelity’s FSOL contributed roughly $1.8M. The derivatives backdrop stayed supportive. Funding remained positive around 0.065%, suggesting leveraged longs are still paying for risk, while buy/sell volume imbalance widened (net buying pressure).
Technicals align with the ETF-driven bid. Analysts highlight SOL reclaiming the 100-day EMA after about 205 days and a potential higher-timeframe double-bottom. Upside targets were framed around $120, with a resistance zone near $95–$120. Near-term support is cited at $89–$91, and SOL/BTC is described as having ended a long downtrend—improving the odds of follow-through if SOL holds above support.
Bullish
The news ties spot Solana ETF inflows to improving market structure: rising futures open interest, positive funding (~0.065%), and volume imbalance consistent with net buying. Combined with technical improvements (reclaiming the 100-day EMA and a potential double-bottom), it increases the odds of a sustained upside move toward $120 if SOL holds the $95 area and then $89–$91 support. Although positive funding and higher OI also suggest more risk-taking, the balance of evidence from both ETF flows and derivatives positioning is supportive for SOL in the near term and can reinforce longer-term sentiment.