Solana News Today: Solana ETFs Attract $3B Inflows as SOL Dips Below $200 Support Level

The Solana ETF market has ignited in recent weeks, with institutional players like Grayscale and Bitwise securing a foothold in the U.S. and Hong Kong. Grayscale's Solana Trust ETF (GSOL), which began staking operations in October 2025, now holds 525,387 SOL—worth nearly $102 million—as of late October, according to an FXStreet report. Meanwhile, Bitwise's Solana ETF saw $56 million in first-day trading, outperforming 850+ ETFs launched this year, according to Yahoo Finance. These developments signal a maturing institutional appetite for Solana (SOL), though the token's price remains under pressure despite the ETF tailwinds.

The ETF race has intensified competition between Solana and Ethereum, with analysts debating which blockchain will dominate institutional adoption. Maria Carola, CEO of StealthEX, argues that Solana's spot ETF launch is a "defining moment" in the Layer 1 blockchain rivalry, according to a Yahoo Finance article. She highlights Solana's technological advantages—such as high throughput and low fees—but acknowledges Ethereum's entrenched position in DeFi and staking. Ethereum currently holds over $60 billion in locked value, compared to Solana's $10 billion, according to Carola. However, she envisions a future where Solana complements Ethereum as a "high-performance execution engine" for on-chain transactions.

Grayscale's GSOL has introduced a unique value proposition by offering staking rewards to investors. The ETF passes on 77% of staking returns to shareholders, allowing them to compound gains through the fund's net asset value (NAV), according to MarketScreener. This feature distinguishes Solana ETFs from their Ethereum counterparts, which typically exclude staking yields. Meanwhile, Bitwise's product has already outperformed early expectations, though SOL's price has dipped by 2% in the past two days, trading below $200—a key support level. Traders on Polymarket assign Solana only a 28% chance of hitting a new all-time high before 2026.

Western Union's recent announcement to launch a USD-pegged stablecoin (USDPT) on Solana further underscores the blockchain's institutional credibility. The move aligns with rising demand for Solana-based ETFs, which have drawn over $3 billion in projected inflows over the next 18 months, according to Carola. However, skeptics caution that ETF success does not guarantee token price appreciation. "The disconnect between ETF performance and SOL's bearish trend is concerning," one analyst noted, pointing to a 14% decline in the token's value since October 10.

Regulatory momentum continues to build, with Hong Kong approving China Asset Management's SOL spot fund in October. The product, which charges a 0.99% management fee, has drawn comparisons to Bitcoin and Ethereum ETFs in terms of accessibility and institutional appeal. In the U.S., Grayscale and Bitwise face a crowded field, with competitors like Bitstamp and 21Shares also vying for market share.