SOL fund table only reports part ｜ 5.5 million is not the final net inflow ｜ around 115 I’ll wait
My stance is cautious, watching for now—especially not using an incomplete ETF table as a basis to chase. This round, first check Binance Square’s Trending Topics, Most Searched, and Binance News, Research, and the official OTC account; then scan the central bank’s macro coverage, regulatory updates, ETF fund institution capital flows, corporate holdings, exchange security, and Solana project announcements. There currently isn’t an accurate rising topic on the Square that directly corresponds to SOL fund data, so I won’t force a narrative by tying it to other coins’ hot searches.
Farside’s Solana fund flow table already shows the row for Sept 23, but only BSOL at about $3.9 million, MSOL at about $1.6 million, and GSOL at $0. The other products still show dashes, and the automatic total comes to about $5.5 million. The dashes mean no data yet—not that it is actually zero. So $5.5 million can only be called a temporary subtotal for the listed items; it can’t be written as the final net SOL fund inflow in the U.S. yesterday.
Comparing with the previous full trading day, Sept 22, the table’s total is about $289 million, including BSOL at about $264 million—funds are clearly concentrated in a single product. Even so, you still can’t conclude that Sept 23 must continue at the same speed. Bitwise, the issuer, explains in its BSOL product description that it tracks SOL and seeks to earn rewards through staking; the reward rate can vary, and it also bears custody, staking, and market price risk. This explains why a securities account can provide SOL exposure, but it does not mean that at every time point it is buying spot on the secondary market exactly equal to the table’s figures. Share creations/redemptions, in-kind delivery, inventory reallocation, and the price itself need to be viewed separately. Until other fund data is filled in, you can’t use a temporary subtotal to fabricate stories like “institutions suddenly withdrew” or “buy orders are confirmed.”
There is already price feedback from the market: at the time of writing, KuCoin’s SOLUSDTM is about $115.0, with a 24-hour high of $119.694 and a low of $112.906, roughly down 3.1%. Price is still below the intraday high— even though the Sept 22 fund flow was positive, it didn’t hold $119. Daily fund flow and the current pullback operate on different time scales. A mismatch in direction is not contradictory, and it definitely can’t prove that funds must have redeemed today.
Solana’s official status page shows the mainnet and RPC are operating normally and has not reported a Sept 23 network incident—this rules out an unverified explanation like “it stopped again,” but it doesn’t replace analysis of the order book, the dollar environment, and risk appetite.
I treat $116.5 as the short-term repair threshold. The $118 to $119.7 range is the supply zone; below that, $114 and $112.9 are observation lines. One 15-minute spike up to $116.5 and then a drop doesn’t count as a repair. If price closes continuously below $112.9, the range judgment is invalidated—risk control should come first. Only if it returns above $116.5 and the pullback holds, does it indicate that the bulls are temporarily taking initiative. The levels come from this contract; spot and other platforms may differ.
If I were trading it myself, I wouldn’t participate now and would keep an empty position, without using high leverage. Only if there are two complete 15-minute closes above $116.5, followed by a pullback and a hold between $115.8 and $116.5, would I consider a spot test long using at most 0.4% of total funds. Near $118, I would cut the position by half; around $119.3 to $119.7 I would平 the remaining position. After entry, if a 15-minute candle closes back below $115.2, I would cut the remaining position by half. If it breaks below $112.8, I would fully stop out and close. If it breaks $112.9 before entry, I cancel the plan and wait for data and price to be confirmed again. If the conditions aren’t triggered, there’s no trade— and I won’t claim profits based on incomplete ETF statistics. #SOL
The above is only my personal market observations and does not constitute investment advice.
My stance is cautious, watching for now—especially not using an incomplete ETF table as a basis to chase. This round, first check Binance Square’s Trending Topics, Most Searched, and Binance News, Research, and the official OTC account; then scan the central bank’s macro coverage, regulatory updates, ETF fund institution capital flows, corporate holdings, exchange security, and Solana project announcements. There currently isn’t an accurate rising topic on the Square that directly corresponds to SOL fund data, so I won’t force a narrative by tying it to other coins’ hot searches.
Farside’s Solana fund flow table already shows the row for Sept 23, but only BSOL at about $3.9 million, MSOL at about $1.6 million, and GSOL at $0. The other products still show dashes, and the automatic total comes to about $5.5 million. The dashes mean no data yet—not that it is actually zero. So $5.5 million can only be called a temporary subtotal for the listed items; it can’t be written as the final net SOL fund inflow in the U.S. yesterday.
Comparing with the previous full trading day, Sept 22, the table’s total is about $289 million, including BSOL at about $264 million—funds are clearly concentrated in a single product. Even so, you still can’t conclude that Sept 23 must continue at the same speed. Bitwise, the issuer, explains in its BSOL product description that it tracks SOL and seeks to earn rewards through staking; the reward rate can vary, and it also bears custody, staking, and market price risk. This explains why a securities account can provide SOL exposure, but it does not mean that at every time point it is buying spot on the secondary market exactly equal to the table’s figures. Share creations/redemptions, in-kind delivery, inventory reallocation, and the price itself need to be viewed separately. Until other fund data is filled in, you can’t use a temporary subtotal to fabricate stories like “institutions suddenly withdrew” or “buy orders are confirmed.”
There is already price feedback from the market: at the time of writing, KuCoin’s SOLUSDTM is about $115.0, with a 24-hour high of $119.694 and a low of $112.906, roughly down 3.1%. Price is still below the intraday high— even though the Sept 22 fund flow was positive, it didn’t hold $119. Daily fund flow and the current pullback operate on different time scales. A mismatch in direction is not contradictory, and it definitely can’t prove that funds must have redeemed today.
Solana’s official status page shows the mainnet and RPC are operating normally and has not reported a Sept 23 network incident—this rules out an unverified explanation like “it stopped again,” but it doesn’t replace analysis of the order book, the dollar environment, and risk appetite.
I treat $116.5 as the short-term repair threshold. The $118 to $119.7 range is the supply zone; below that, $114 and $112.9 are observation lines. One 15-minute spike up to $116.5 and then a drop doesn’t count as a repair. If price closes continuously below $112.9, the range judgment is invalidated—risk control should come first. Only if it returns above $116.5 and the pullback holds, does it indicate that the bulls are temporarily taking initiative. The levels come from this contract; spot and other platforms may differ.
If I were trading it myself, I wouldn’t participate now and would keep an empty position, without using high leverage. Only if there are two complete 15-minute closes above $116.5, followed by a pullback and a hold between $115.8 and $116.5, would I consider a spot test long using at most 0.4% of total funds. Near $118, I would cut the position by half; around $119.3 to $119.7 I would平 the remaining position. After entry, if a 15-minute candle closes back below $115.2, I would cut the remaining position by half. If it breaks below $112.8, I would fully stop out and close. If it breaks $112.9 before entry, I cancel the plan and wait for data and price to be confirmed again. If the conditions aren’t triggered, there’s no trade— and I won’t claim profits based on incomplete ETF statistics. #SOL
The above is only my personal market observations and does not constitute investment advice.
