Important points:
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Spot’s Solana ETF is off to a strong start with over $400 million in weekly inflows.
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SOL broke its 211-day uptrend and fell below the major moving averages.
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If it fails to sustain $155, SOL price could fall into the $120-$100 range.
The Spot Solana (SOL) exchange-traded fund (ETF) opened with a bang, posting record positive inflows and highlighting institutional demand for the network’s native assets.
On Monday, the Spot SOL ETF recorded a single-day inflow of $70 million, the largest since its launch, bringing the Spot ETF’s total inflows to $269 million since its October 28 debut.
Two Solana ETFs, Bitwise’s BSOL US Stock and Grayscale’s GSOL US Stock, attracted combined net inflows (excluding seed capital) of $199.2 million in the first week, according to Bitwise data.
Bitwise’s BSOL ETF led the way, reaching $401 million in assets under management (AUM) by October 31st. This figure represents over 9% of total global SOL ETP AUM and 91% of global SOL ETP flows last week. In contrast, Grayscale’s GSOL US Equity withdrew just $2.18 million, accounting for about 1% of total ETP flows.
Globally, weekly net inflows into Solana ETP exceeded $400 million, marking the second highest weekly inflow on record. Bitwise’s Solana Staking ETF (BSOL) is also the best-performing crypto ETP globally, ranking 16th among ETPs across asset classes this week.
Total Solana ETP AUM now stands 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 represent a potential 34% increase in SOL price, assuming a beta sensitivity of 1.5.
Related: Solana Treasury Forward Industries approves $1 billion share buyback
Solana Price Breaks Major Downtrend: Will it Fall Another 20%?
Despite record inflows, SOL’s price trend turned sharply bearish this week, dropping more than 16% on Tuesday to $148.11, its lowest since July 9. The correction also broke a 211-day uptrend that began on April 7, with the $95 level being the lowest this year.
Solana is currently testing a daily order block between $170 and $156, but this area has limited support. Due to the economic downturn, the price has fallen below the 50-day, 100-day, and 200-day EMAs, indicating confirmation of bearish potential on the daily chart.
Currently testing liquidity lows around $155, SOL could undergo a mean-reverting recovery if buyers stick to this zone, especially as the Relative Strength Index (RSI) has reached its lowest level since March 2025.
However, if the price is accepted below $160 and fails to sustain $155, the next downside target could be between $120 and $100, potentially leading to a deeper correction unless a short-term rebound materializes soon.
Related article: Downtrend in Solana ETF causes hawkish Fed to cause $360 million in crypto outflows
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