Solana News Update: Institutions Invest $370 Million in Solana ETFs Amid 5-Month Price Slump

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Solana News Update: Institutions Invest $370 Million in Solana ETFs Amid 5-Month Price Slump

Bitget-RWA2025/11/14 22:58

By:Bitget-RWA

- Solana ETFs (BSOL/GSOL) gained $370M in inflows despite SOL hitting 5-month lows amid broader crypto declines. - Contrasts Bitcoin/ETH ETF outflows ($870M BTC exodus) as institutional demand for Solana remains strong. - Technical indicators signal potential $100 support break, but ETF inflows persist with NYSE options boosting participation. - Market divides: $150 resistance vs. $142 support levels, with RSI near oversold but bullish divergence emerging.

Solana ETF Investments Climb Even as

SOL

Falls Below Key Support

Solana (SOL) is under sustained selling pressure, hovering near its lowest point in five months as the wider crypto market struggles after Bitcoin (BTC) slipped under $100,000. Yet,

U.S. spot Solana exchange-traded funds (ETFs) are bucking the negative trend

, consistently attracting new capital despite ongoing technical and on-chain headwinds. Since launching on October 28, these ETFs have seen a total of $370 million in inflows, with Bitwise's BSOL and Grayscale's GSOL

at the forefront

. This stands in stark contrast to

Bitcoin

and

Ethereum

ETFs, which have experienced notable withdrawals,

including a $870 million outflow from BTC funds on November 13

—marking the second-largest single-day withdrawal ever recorded.

This disconnect between ETF inflows and price movement has fueled discussion among market observers. While institutional interest in

Solana

remains strong, signals from retail traders and technical charts point to the possibility of a deeper pullback.

Data from CoinGlass indicates Solana's futures open interest (OI)

dropped 3.34% in the past day to $7.35 billion, suggesting less leverage and more long positions being closed. On-chain data further highlights the vulnerability at current prices:

Glassnode's UTXO realized price distribution

shows little historical buying below $144, with scant support until prices approach $24.

Solana News Update: Institutions Invest $370 Million in Solana ETFs Amid 5-Month Price Slump image 0

Technical experts caution that if Solana fails to hold above critical support, it could quickly fall toward the $100 psychological threshold.

The token has already slipped below its 100-week simple moving average

and broken a multi-year uptrend that began in early 2023. There is now a risk of a death cross—when the 50-day exponential moving average (EMA) dips under the 200-day EMA—

which could signal an extended bearish phase

. At the same time, the relative strength index (RSI) is near oversold at 31, but a bullish divergence has appeared as prices reach new lows without the RSI following suit

based on CoinGlass data

Despite these challenges, institutional investors seem unfazed.

Even after SOL's price slid 20% since late October

, ETF inflows have persisted for 13 straight days. On November 12, Bitwise's BSOL drew $12.46 million, and Grayscale's GSOL brought in $5.59 million

according to crypto news reports

. The recent introduction of options trading for Solana ETFs on the New York Stock Exchange has further increased institutional engagement,

providing additional risk management strategies

Opinions remain split on Solana's short-term outlook. Some view the steady ETF inflows as a sign to buy, while others warn that weak on-chain data and overall market instability could extend the decline. Should Solana maintain levels above $150, it could challenge resistance at $173, but

a drop below $142 may trigger renewed selling

toward the $100 mark.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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