U.S. Eastern Monday: Solana spot ETFs are still seeing inflows, but the momentum has collapsed—after hitting a Friday record of about 86.67 million, it immediately dropped to roughly 12.7 million.
According to data (SoSoValue): U.S. spot Solana ETFs reported total net inflows of about $12.7 million on September 28, marking the sixth consecutive trading day of positive inflows (21–25 plus 28). Breaking it down, Bitwise’s BSOL saw inflows of about $9.65 million, Canary’s SOLC about $5.04 million, while VSOL saw outflows of roughly $2.0 million. Net assets are around $1.93 billion, roughly just 2.8% of the crypto market cap. The headline can still say “six straight days of inflows,” but the numbers are no longer accelerating—they’re more like emergency braking.
On the market: before the weekend, it touched a high around 124.95; now it’s around 117.6. Over the past 24 hours, it’s down nearly 2%, with a low around 116.3. The share pipeline is still dripping—spot has already given back about 6% from the recent high.
What I think: don’t take “another day of inflows” as meaning the pace is being stepped up. The key figure to watch today is that 86.67 million falling to 12.7 million—there are both in and out flows, and it’s not one-directional.
What I would do: around 117.6, I won’t chase the “streak” headline. I’d prefer a light position and watch whether it can hold in the 116–117 zone (around today’s low); if it rebounds to 120–121, I’m inclined to reduce or stay on the sidelines. If it moves back above 123, I’m even less inclined to chase. If it breaks below 115.5, for now I’ll put this setup aside. Keep position sizing light rather than heavy.
$SOL
According to data (SoSoValue): U.S. spot Solana ETFs reported total net inflows of about $12.7 million on September 28, marking the sixth consecutive trading day of positive inflows (21–25 plus 28). Breaking it down, Bitwise’s BSOL saw inflows of about $9.65 million, Canary’s SOLC about $5.04 million, while VSOL saw outflows of roughly $2.0 million. Net assets are around $1.93 billion, roughly just 2.8% of the crypto market cap. The headline can still say “six straight days of inflows,” but the numbers are no longer accelerating—they’re more like emergency braking.
On the market: before the weekend, it touched a high around 124.95; now it’s around 117.6. Over the past 24 hours, it’s down nearly 2%, with a low around 116.3. The share pipeline is still dripping—spot has already given back about 6% from the recent high.
What I think: don’t take “another day of inflows” as meaning the pace is being stepped up. The key figure to watch today is that 86.67 million falling to 12.7 million—there are both in and out flows, and it’s not one-directional.
What I would do: around 117.6, I won’t chase the “streak” headline. I’d prefer a light position and watch whether it can hold in the 116–117 zone (around today’s low); if it rebounds to 120–121, I’m inclined to reduce or stay on the sidelines. If it moves back above 123, I’m even less inclined to chase. If it breaks below 115.5, for now I’ll put this setup aside. Keep position sizing light rather than heavy.
$SOL
