Solana ETF inflows show demand returning as traders eye SOL rally to $120
Solana ETFs recorded their strongest weekly inflow since February as SOL futures open interest climbed nearly 30%. Is SOL bracing for a rally to $120?
The spot Solana (SOL) exchange-traded funds (ETFs) recorded their strongest weekly performance since February, attracting $39.23 million in total net flows. The surge in capital inflows coincided with SOL futures open interest rising by $1.5 billion in May, signaling a sharp increase in trader positioning across the derivatives markets.
The rise in market activity comes alongside Solana’s 15% rally to $97 in the past seven days, with traders targeting the next major resistance level at $120.
Bitwise’s BSOL ETF led the latest inflow wave with $36 million in weekly net inflows last week, while Fidelity’s FSOL added over $1.8 million. Since its launch, BSOL has attracted $861 million, accounting for nearly 81% of cumulative inflows across all spot SOL ETFs, which now total about $1.06 billion.