Solana ETFs Maintain Strong Inflows Despite 57% Token Price Drop

Solana spot ETFs allow investors to gain exposure to SOL through traditional brokerage accounts, with fund flows providing a gauge of institutional demand. Bitwise's BSOL has captured 81% of cumulative net inflows, making that concentration a key indicator of market confidence and liquidity.

Solana spot ETFs recorded $39.23 million in net inflows last week, their strongest weekly showing since February. Derivatives activity also accelerated, with open interest in SOL futures rising nearly 30% in May to $6.4 billion. As capital inflows and leveraged positions expand, traders see $120 as the next major resistance level.

Solana is a public blockchain known for high throughput and low fees, while SOL is its native asset, used to pay fees and participate in staking. Although SOL is down 72% from its all-time high, Solana's on-chain trading volume and network revenue continue to outperform most rivals. Whether the token's price fully reflects underlying demand for the network has therefore become central to the market's reassessment of its long-term value.

The latest data show that decentralized exchange (DEX) volume on Solana remains strong and on-chain revenue continues to be competitive, highlighting a divergence between price and fundamentals. Meanwhile, inflows into spot SOL ETFs have recently slowed, weakening near-term buying momentum. The reports did not provide a statistical cutoff date, ETF inflow figures or DEX trading volume; the only confirmed quantitative measure at this stage is SOL's 72% decline from its all-time high.