Inflow into Solana-ETF soared 70-fold: what is behind the record
Solana (SOL) spot exchange-traded funds demonstrated impressive momentum last week, recording net inflows of $10.26 million for the period from August 10 to 14. This figure turned out to be roughly 70 times higher than the previous week, when the volume of attracted funds amounted to about $144,930. Such a surge became the best result since late May, clearly indicating the intensification of institutional interest in the Solana ecosystem.
Two funds — two days: the whole intrigue of the week
Notably, almost the entire inflow was provided by just two products, and over two trading sessions. The Bitwise Solana ETF (BSOL) attracted $8.8 million on August 10, marking its largest daily figure since May 12. Morgan Stanley Solana Trust (MSOL) added another $1.43 million the following day. Together, these two instruments covered almost the entire weekly volume, while VanEck, Fidelity, 21Shares, Franklin Templeton, and Grayscale showed no significant net inflows.
This imbalance deserves special attention. The market is clearly consolidating around the most liquid and proven products rather than distributing capital evenly. Seven consecutive weeks of positive momentum have brought total Solana-ETF assets to $893.5 million, with cumulative inflows since launch exceeding $1.16 billion. However, the price of the token itself barely reacted to this optimism: SOL declined by 1.18%, trading near $75.51.
Price and volumes: trader caution
Moreover, trading activity demonstrates restraint: the total weekly trading volume for Solana-ETFs fell to $159.7 million from $167.3 million previously. This suggests that capital inflows are more strategic than speculative in nature. Investors are accumulating positions but are not ready for aggressive moves amid uncertainty.
Against this backdrop, bitcoin funds showed the opposite dynamic, losing $389.7 million after an inflow of $853.5 million the week before. BTC-ETF turnover fell to $6.94 billion — the lowest level since September 2024. Ethereum products ended the week almost unchanged with an outflow of $2.26 million, while XRP-ETFs continued to attract capital for the fifth consecutive week ($2.25 million), and Hyperliquid (HYPE) received $2.74 million.
The key catalyst for Solana could be the Agave v4.2 update, the launch of which on the mainnet is expected during the week of August 17. In my view, it is this upgrade that will serve as a test of the strength of the current inflow. If the technical improvements confirm expectations, we may see sustained growth in interest rather than one-off spikes. For now, the market remains in wait-and-see mode, and investors should closely monitor the price reaction to network news.