Solana ETF's daily net inflow exceeds 10 million, and institutional entry signals are becoming increasingly clear

According to the latest news, the US Solana spot ETF saw a total net inflow of $10.67 million on January 12th alone. Among them, the Bitwise SOL ETF BSOL performed the strongest, with a single-day net inflow of $8.56 million, bringing its total net inflow to $657 million. This ongoing capital inflow reflects a continued increase in institutional investors’ interest in Solana.

Specifics of ETF Capital Inflows

Single-Day Net Inflow Distribution

Based on data, the capital inflow distribution for Solana spot ETFs yesterday is as follows:

As of press time, the total net asset value of Solana spot ETFs has reached $1.14 billion, with a cumulative net inflow of $828 million. Although this scale still lags behind Bitcoin and Ethereum ETFs, the growth momentum is clear.

Rapid Market Expansion

From the cumulative net inflow data, the process of Solana ETFs growing from zero to $828 million has been relatively quick, indicating that institutional recognition of Solana is rapidly increasing. As the main capital carrier, Bitwise SOL ETF accounts for over 79% of the single-day net inflow, demonstrating a strong market preference for this product.

Multiple Signals of Institutional Entry

Not Just ETF Inflows

Signals of institutional interest in Solana go far beyond ETF capital. According to related news, Morgan Stanley has submitted an application for a Solana ETF, competing with institutions like BlackRock, Fidelity, and Bitwise for this market. This indicates that traditional financial giants are accelerating their entry into the Solana ecosystem.

More notably, on-chain data shows that a long-dormant institutional investor recently spent $10.87 million to purchase 80,000 SOL tokens. While such large buy orders are smaller in scale compared to ETF inflows, they represent a willingness for direct institutional participation.

Ecosystem Development Supports Confidence

Institutional entry is not just about chasing prices but also a recognition of Solana’s fundamentals. According to reports, Sharps Technology and Coinbase Institutional are collaborating to launch institutional-grade validation nodes on the Solana network, integrating Coinbase’s institutional infrastructure and security standards. Such collaborations highlight Solana’s attractiveness as an infrastructure.

Meanwhile, Solana’s integration on the X platform, financing of derivatives projects like Bumpin, and inclusion of SOL among the top 6 in the Nasdaq-CME joint crypto index all reinforce Solana’s market position.

Price Performance and Capital Flows Are Disconnected

An Interesting Contradiction

Although ETF capital continues to flow in, SOL’s price performance has lagged. According to data, SOL is currently priced at $138.36, down 2.76% in 24 hours, but up 0.62% over 7 days. This indicates that while institutions are buying through ETFs, the price has not risen in tandem.

Technical analysis shows that SOL faces certain downside risks. Key support levels are between $122 and $145. If it falls below $122, the price could further decline to $102. This suggests that although institutional capital inflows are a positive signal, they do not necessarily translate into short-term price increases.

Personal Opinion

This kind of disconnect is quite common—the process of institutions building positions is usually gradual and does not push prices up all at once. The continuous inflow of ETF capital may simply reflect institutions accumulating in batches at relatively low levels. From this perspective, although the single-day net inflow is not large (compared to stock market ETF inflows), its persistence and stability are key.

Future Focus

The sustainability of institutional entry warrants close attention. If Morgan Stanley’s ETF application is approved, it could trigger a new round of capital inflows. Additionally, developments in the Solana ecosystem, network upgrade plans, and progress in integration with large platforms like X will influence ongoing institutional participation.

Summary

The Solana spot ETF saw a single-day net inflow of $10.67 million. While this number may seem modest, it reflects a sustained and stable institutional entry attitude. Coupled with signals like Morgan Stanley’s application, whale purchases, and ecosystem project financing, a clearer picture of institutional deployment emerges.

However, it’s important to note that capital inflows and price increases are not synchronized. Currently, SOL’s price performance is relatively lagging, with certain technical risks. This suggests that institutional entry is a medium-term positive signal, but short-term price volatility should still be approached with caution. The key is to monitor whether this capital inflow can be sustained and whether the ecosystem development can support this institutional interest.