Solana ETFs draw $39M inflows as SOL rallies 15%, OI jumps
Solana ETFs get strong demand; spot SOL ETF inflows reach about $39M for the week as SOL jump about 15%. Reported figures show total spot SOL ETF volume near $1.06B and big pickup in futures positioning: Solana futures open interest rise from about $4.94B to $6.4B (over $6B). Institutional flows led by Bitwise’s BSOL add around $36M net inflows (about 81% of total spot SOL ETF volume), while Fidelity’s FSOL put in roughly $1.8M. Derivatives backdrop remain supportive. Funding stay positive around 0.065%, meaning leveraged longs still pay for risk, while buy/sell volume imbalance widen (net buying pressure). Technicals line up with the ETF-driven bid. Analysts point out SOL reclaim the 100-day EMA after about 205 days and possible higher-timeframe double-bottom. Upside targets around $120, with resistance zone near $95–$120. Near-term support at $89–$91, and SOL/BTC described as having ended a long downtrend—improving chances of follow-through if SOL hold above support.
Bullish
Di tori tok say di Solana ETF money dem dey enter relate to market structure wey don dey better: futures open interest don dey rise, funding positive (~0.065%), and volume imbalance show say people dey do net buying. Join am with technical improvements (dem don reclaim di 100-day EMA and possible double-bottom), e dey increase di chance say price go steady go up to $120 if SOL hold di $95 area and den di $89–$91 support. Even though positive funding and higher OI mean more risk-taking fit dey, di balance of evidence from both ETF flows and derivatives positioning dey supportive for SOL near term and fit boost long-term sentiment.