Solana News Today: Solana ETFs Attract $37M Inflows as Token Dips 8%: Skepticism Lingers Over Staking Yields

The U.S. Solana (SOL) spot ETF market kicked off with a net inflow of $37.3 million, yet the token's price slid 8% to $180.69, erasing all year-over-year gains. The Bitwise Solana Staking ETF (BSOL) led the charge with $116 million in net inflows during its first two trading days, while the Grayscale Solana Trust (GSOL) attracted $1.4 million after converting to an ETF, as CoinDesk reported. Despite the influx of capital, SOL's decline underscored broader market skepticism, with analysts pointing to a large on-chain transfer by Jump Crypto—moving 1.1 million SOL to Galaxy Digital—as a potential sentiment drainer, the CoinDesk piece added.

The ETF landscape is rapidly diversifying. Grayscale's GSOL, which began trading on October 29, offers a 0.35% expense ratio and stakes 74.9% of its holdings, while Bitwise's BSOL charges 0.20% (waived for three months) and stakes 100% of its SOL, according to Yahoo Finance and a Seeking Alpha analysis. REX-Osprey's SSK ETF, with a 0.75% fee, saw $24 million in inflows this week, pushing its assets under management to $400 million, Crypto.News reported. JPMorgan analysts predict $6 billion in first-year inflows for upcoming Solana ETFs from firms like VanEck and Fidelity, the Crypto.News piece noted.

Price action remains mixed. SOL rebounded to $195 on October 25, up 12% from its monthly low, but retreated below $200—a psychological threshold that triggered a 2.56 million-trade volume spike, CoinDesk noted. Technical analysts note SOL is trading in a $194–$203 range with fading rallies, while its stablecoin market cap hit $16.25 billion, up 200% year-to-date, the CoinDesk report added. Meanwhile, Solana's blockchain infrastructure showed resilience, with decentralized exchange protocols processing $140 billion in 30-day volume, Crypto.News reported.

Market participants are split on the ETFs' long-term impact. Bitwise's CIO, Matt Hougan, called the product a "watershed moment," citing institutional demand for Solana's high-throughput network and 7% staking yields, Yahoo Finance reported. However, skeptics highlight the lack of regulatory safeguards for non-1940 Act-compliant ETFs like GSOL and the risk of yield compression as more funds enter the market, according to the Yahoo Finance and Seeking Alpha coverage.