Solana beats Bitcoin, Ethereum as SOL ETF inflows hit $6.8M!
Spot demand is surging while traders keep leverage in check.
Key takeaways
Are Solana ETFs doing well?
Solana’s spot ETFs pulled in $6.8 million last week, outpacing BTC and ETH.
What does derivatives data say about Solana’s market sentiment?
Open interest around $3.4 billion means traders are maintaining balanced exposure.
Solana [SOL] is running ahead with a big lead in the digital asset space.
The altcoin saw $6.8 million flow into its spot ETFs, more than both Bitcoin [BTC] and Ethereum [ETH]. Derivatives data also shows stable Open Interest (OI) around $3.4 billion, so the market’s support is confident and not driven by hype.
SOL ETFs continue to win
Solana’s spot ETFs continued their strong run, recording $6.8 million in net inflows on the 10th of November, according to data from Farside Investors.
The Bitwise Solana ETF [BSOL] led with $5.9 million, while the Grayscale Solana ETF [GSOL] added $0.9 million. This is Solana’s second consecutive week of steady inflows, bringing its total since launch to $343 million.
In contrast, Bitcoin and Ethereum products saw limited activity.
Derivatives stay steady
Solana’s derivatives data showed steady and balanced sentiment despite strong ETF inflows.
OI hovered around $3.4 billion, at press time, so traders maintained consistent exposure without significant liquidations or new leverage. Meanwhile, the Funding Rates averaged -0.0009, a slightly bearish bias but no aggressive shorting activity.
Perhaps Solana’s recent strength is being driven more by spot demand and ETF activity than speculative futures trading. This is a healthy setup, showing market maturity too.
SOL faces resistance
Solana traded at $163 at press time. The SOL was down 2.3% in the past day, with visible weakness on the daily chart.
The RSI showed limited buying strength despite strong ETF inflows. The CMF at 0.00 means neutral capital movement, so inflows weren’t translating into strong spot demand yet.
Price action showed consolidation after repeated rejections near $170, so there is resistance in that zone. If SOL fails to hold above $160, a retest of the $150 level looks likely before any fresh attempt at recovery.
