Yesterday US Solana Spot ETF Saw a Net Inflow of $23.6 Million

Solana spot ETFs in the U.S. saw a net inflow of $23.6 million on January 13, according to Farside Investors monitoring. This marked a significant shift from recent outflows and reflected growing investor confidence. The inflows were primarily driven by two major providers: Bitwise's BSOL and Fidelity's FSOL.

Bitwise BSOL accounted for $20.9 million of the inflows, while Fidelity FSOL added $1.7 million. These figures indicate a continued trend of institutional and retail capital returning to the Solana ecosystem after a period of consolidation.

The inflows coincide with a broader uptick in demand for U.S.-listed crypto ETFs. Bitcoin and Ethereum spot ETFs recorded net inflows of $754 million and $130 million, respectively, suggesting a diversified but still cautious appetite for digital assets.

Why Did This Happen?

The inflows into Solana ETFs followed a period of price consolidation for the token. Solana (SOL) had been trading above a key $120 support level and began showing signs of renewed strength around $146. The price move coincided with a pickup in institutional interest, which is often reflected in ETF flows.

Retail interest also contributed to the inflows, with rising open interest in Solana futures contracts reaching $8.8 billion on January 14, the highest since early November. This suggests that both retail and institutional investors are increasing their exposure to Solana ahead of a potential breakout.

How Did Markets React?

Solana's price response was positive, with the token trading at $146.66 on January 14, up 1.08% for the day and 6.31% over the past week. The market capitalization climbed above $81.5 billion, supported by heavy trading volumes. Analysts noted that a move above the 100-day EMA at $149 could confirm the bullish thesis and set the stage for a move toward $200.

Technical indicators also showed strength. The RSI climbed to 68, and the MACD remained above the signal line, indicating increasing bullish momentum. These signals encouraged investors to take a more aggressive stance in the short to medium-term.

What Are Analysts Watching Next?

Analysts are closely monitoring whether Solana can sustain its recent gains. One key level of focus is the 200-day EMA at $160, which could introduce supply pressure. On the flip side, support at the 50-day EMA ($138) remains crucial for maintaining the bullish outlook.

Institutional ETF flows are also under scrutiny. While the $23.6 million inflow is notable, it is still relatively small compared to Bitcoin's $754 million. Analysts will watch whether the inflows continue to grow or if capital rotates back toward more established assets.

Regulatory developments in crypto ETPs are another factor. Bitwise recently expanded its crypto ETPs to Sweden, listing seven SEK-denominated products on Nasdaq Stockholm. This move reflects a broader trend of institutional players expanding access to crypto through regulated channels.

Solana's legal challenges also remain a concern. A class-action lawsuit involving key figures in the Solana ecosystem has created uncertainty. Until the legal situation is resolved, it could cloud investor sentiment and limit inflow potential.

Looking ahead, Solana's price trajectory will depend on a combination of technical strength, ETF demand, and broader market sentiment. If the token maintains its momentum above key moving averages and continues to attract capital through ETFs, the case for a move toward $150 to $200 becomes stronger.