Solana News Today: Solana ETFs Attract $15M Inflows as Token Price Falters

Solana's spot ETFs have captured investor attention, drawing significant inflows as traditional crypto funds for Bitcoin and Ethereum face outflows. On November 4, Solana ETFs recorded a net inflow of $14.9 million, led by Bitwise's BSOL with $13.2 million and Grayscale's GSOL adding $1.7 million, according to a Yahoo Finance report. That report showed a stark contrast to the same day's $566.4 million outflow for Bitcoin ETFs and $219.4 million for Ethereum ETFs. The trend reflects a broader "capital rotation" from established crypto assets to newer, staking-driven narratives like Solana, according to a TradingView article.

The momentum is fueled by institutional demand for regulated access to Solana's high-performance blockchain, which supports over $40 billion in user assets, according to a Bitwise Solana ETF report. Bitwise's BSOL, launched in early November, has already attracted $417 million in its first week, making it one of the top 20 ETFs globally by net inflows, the report noted. Meanwhile, BlackRock's IBIT, typically the market leader, saw $254 million in outflows during the same period, according to that report. Analysts attribute the shift to Solana's 7%–8% staking yields and its role in tokenized asset infrastructure, per a Lookonchain report.

Despite the inflows, Solana's token price remains under bearish pressure. On November 4, SOL fell as low as $146 before closing above the $155 support level, the Yahoo Finance report noted. Over the past week, the token has lost more than 3%, trading at $186.92, the TradingView report showed. Market participants cite the U.S. government shutdown, now in its 37th day, as a key factor dampening liquidity and investor sentiment, according to a Crypto.news piece. The Fear and Greed Index has dropped to 24, signaling heightened caution, that piece also noted.

Upexi, a major Solana treasury firm, has added 88,750 SOL to its holdings, bringing its total to 2.107 million tokens valued at $397 million, according to Lookonchain. Nearly all of these holdings are staked, generating daily yields of approximately $75,000, the Lookonchain report added. The firm's strategy underscores confidence in Solana's long-term value proposition, even as short-term price volatility persists.

The ETF inflows have not yet translated into a breakout for Solana. While the token's price has shown early signs of rebounding from $150, it remains below its 9-day simple moving average of $175.85, the Crypto.news piece observed. Analysts remain cautiously optimistic, noting that Solana's expanding role in stablecoin transfers and tokenized assets could drive growth, the Bitwise Solana ETF report suggested. Bitwise's CIO, Matt Hougan, argues that the blockchain's infrastructure and developer ecosystem position it to benefit from broader adoption, according to that report.