Solana News Today: Solana ETFs Surge, Price Clings Below Key Averages Despite Inflows

Solana (SOL) has seen robust inflows into U.S.-listed exchange-traded funds (ETFs), with cumulative net inflows reaching $476 million as of November 19, despite the token trading at $141-well below its September peak of $186 according to analysis. The surge in ETF demand, led by Bitwise's BSOL with $357.8 million in inflows over two weeks, has outpaced competing products like Grayscale's GSOL and Fidelity's FSOL. This trend marks the longest uninterrupted inflow streak among crypto ETFs this year, even as broader market indices like the CoinDesk 20 Index (CD20) dipped 12% in seven days.

The ETF momentum contrasts sharply with Bitcoin and Ethereum's struggles. While Solana ETFs have seen no outflows since their October 28 debut, Bitcoin ETFs recorded $2.96 billion in November net outflows, and Ethereum ETFs lost $107 million. Bitwise's BSOL dominated with $35.9 million in fresh inflows on November 19, reflecting growing institutional confidence. Meanwhile, VanEck and 21Shares launched spot Solana ETFs in late October and November, further expanding access.

Despite the ETF-driven optimism, Solana's price remains under pressure. The token hovers below key moving averages, including the 50-day EMA at $173 and the 200-day EMA at $180, with the MACD indicator still in negative territory. Open interest (OI) in Solana futures has fallen to $7.2 billion from $10 billion on November 1, raising concerns about liquidity and potential further declines. A break below $130 could reignite bearish sentiment, while a sustained rebound above $160 might challenge the 100-day EMA at $182.

Retail demand remains muted, with futures open interest significantly lower than the September 19 record of $17 billion. Analysts caution that without a surge in OI, the price may struggle to maintain gains. "The ETF inflows are a positive sign, but they haven't translated into strong retail participation," noted an analyst from CoinGlass.

The ETF landscape has intensified competition among asset managers. Bitwise's BSOL, which seeded $222.9 million in initial capital, has attracted 89% of total inflows, while Grayscale's GSOL lagged with $24.4 million over the same period. Fidelity's FSOL, launched on November 18, added $2.1 million in its first day, signaling cautious but steady adoption.

Institutional interest is further fueled by staking incentives and lower fees. Bitwise's 0.20% fee for BSOL, coupled with its staking feature, has drawn investors seeking yield. VanEck's recent waiver of sponsor fees for its Solana ETF also boosted inflows.

The price's next move hinges on technical levels and macroeconomic factors. A break above $145 could trigger short liquidations and push SOL toward $150–$161.73, while a drop below $134.97 risks a test of $120 support according to analysis. Meanwhile, Anatoly Yakovenko, Solana's co-founder, will speak at Abu Dhabi Finance Week 2025, focusing on blockchain's role in decentralized finance.

Investors remain divided on whether the ETF-driven rally will translate into a sustained price recovery. "The inflows are a vote of confidence, but the market is still pricing in uncertainty," said an ETF analyst. "Until we see stronger OI and retail participation, the bulls need to tread carefully." According to market analysis.