SOL ETFs saw $71.5 million in outflows over a week—but $111.2 million moved into institutional custody. So is this selling, or just a transfer?
Key figures:
• U.S. spot SOL ETFs: $71.5 million in net outflows from Oct. 26–30 (SoSoValue data, compiled by CoinPulseHQ & CryptoCompass on Nov. 1). Friday alone saw $10.74 million, led by Bitwise BSOL at $9.26 million.
• Comparison for the same week: BTC ETFs −$202.6 million, ETH ETFs −$431.5 million. So SOL didn't see the heaviest outflows—but the direction was the same: institutions pulled funds during the week of the Binance hack.
• The other side: On Oct. 31, two wallet transfers totaling $111.2 million went to Coinbase Institutional (Pluang, Nov. 1)—interpreted as a custody relocation, not a direct sale.
• Scale: Total SOL ETF assets are $1.40 billion, with cumulative inflows of $1.47 billion—weekly outflows were ≈5% of assets. Small relative to the total, but up from ~$25 million per week in previous weeks. Spot SOL selling volume also exceeded buying for the first time in over 6 months (Pluang, Nov. 1).
My take: Institutional pressure on SOL is real, but it's not panic yet—the weekly outflows are still in the single digits as a percentage of assets, and custody inflows counterbalance the selling narrative. What's still unanswered is whether this is post-hack repositioning or the start of a longer outflow trend. One dataset isn't enough to draw a conclusion.
What I'm watching next: ETF flows this week—whether outflows continue or stop—and SOL around $93 (the recent low) versus $107 (the level it broke through). Spot price this morning is ~$94.5.
What do you think—is institutional money fleeing, or is this just post-hack repositioning?
This is my analysis, not financial advice—always DYOR.
#Solana #ETF #Crypto $SOL $BTC $ETH
Key figures:
• U.S. spot SOL ETFs: $71.5 million in net outflows from Oct. 26–30 (SoSoValue data, compiled by CoinPulseHQ & CryptoCompass on Nov. 1). Friday alone saw $10.74 million, led by Bitwise BSOL at $9.26 million.
• Comparison for the same week: BTC ETFs −$202.6 million, ETH ETFs −$431.5 million. So SOL didn't see the heaviest outflows—but the direction was the same: institutions pulled funds during the week of the Binance hack.
• The other side: On Oct. 31, two wallet transfers totaling $111.2 million went to Coinbase Institutional (Pluang, Nov. 1)—interpreted as a custody relocation, not a direct sale.
• Scale: Total SOL ETF assets are $1.40 billion, with cumulative inflows of $1.47 billion—weekly outflows were ≈5% of assets. Small relative to the total, but up from ~$25 million per week in previous weeks. Spot SOL selling volume also exceeded buying for the first time in over 6 months (Pluang, Nov. 1).
My take: Institutional pressure on SOL is real, but it's not panic yet—the weekly outflows are still in the single digits as a percentage of assets, and custody inflows counterbalance the selling narrative. What's still unanswered is whether this is post-hack repositioning or the start of a longer outflow trend. One dataset isn't enough to draw a conclusion.
What I'm watching next: ETF flows this week—whether outflows continue or stop—and SOL around $93 (the recent low) versus $107 (the level it broke through). Spot price this morning is ~$94.5.
What do you think—is institutional money fleeing, or is this just post-hack repositioning?
This is my analysis, not financial advice—always DYOR.
#Solana #ETF #Crypto $SOL $BTC $ETH