The SOL ETF is seeing $6.8 million in weekly inflows and $3.4 billion in open interest — here’s why the market is surprisingly healthy.

Anatoly 2025-11-17 11:29 39425人围观 SOL

The SOL ETF is seeing $6.8 million in weekly inflows and $3.4 billion in open interest — here’s why the market is surprisingly healthy. Solana's spot ETF saw around $6.8 million in net inflows last week, outpacing Bitcoin and Ethereum, with BSOL seeing $5

SOL ETF saw weekly inflows of $6.8 million, with open interest reaching $3.4 billion - here's why the market is surprisingly healthy.

Solana’s spot ETF had a net inflow of approximately US$6.8 million last week, surpassing Bitcoin and Ethereum, with BSOL inflows of US$5.9 million and GSOL inflows of US$900,000. Since its launch, the total ETF inflow has been approximately US$343 million.
Derivatives data shows that open interest is stable at around $3.4 billion and financing rates are slightly negative, indicating that market sentiment is balanced and SOL's recent strength is driven more by spot and ETF demand than by leveraged speculation.
Despite strong ETF inflows, SOL is still consolidating around $163, with repeated rejections around $170, the RSI indicator is flat, and the CMF indicator is also at neutral levels； If $160 finds resistance, bulls are likely to retest the $150 area before attempting a clearer breakout.

Solana Solana has been trending a little differently than other cryptocurrencies in the market lately. While all eyes are focused on Bitcoin and Ethereum, SOL has been quietly making efforts behind the scenes, especially in the field of ETFs. Over the past week, Solana’s spot ETF saw net inflows of approximately $6.8 million, exceeding the net inflows of Bitcoin and Ethereum during the same period. For a so-called "altcoin", this is undoubtedly a very impressive result.

According to data from Farside Investors on November 10, the Solana Spot ETF continued its strong momentum. Among them, the Bitwise Solana ETF (BSOL) performed the most, attracting about $5.9 million in new funds, while the Grayscale Solana ETF (GSOL) also added about $900,000. This is the second week in a row that the Solana ETF has received steady inflows, bringing its total inflows since launch to approximately $343 million. Meanwhile, Bitcoin and Ethereum products also performed well. It's just... a leisurely cruise with less activity in comparison.

Derivatives show calm, not chaos

What’s even more interesting is that, underneath the surface, Solana’s derivatives market isn’t experiencing wild swings. You might expect heavy ETF inflows to be accompanied by aggressive leveraged trading, but the data suggests otherwise. Open Interest (OI) is around $3.4 billion and has been holding steady around this level. This means that traders are holding on to their positions, and there are no large-scale liquidations, bandwagon entries, or leverage explosions.

Funding rates are slightly negative, averaging around -0.0009, which suggests a slight bearish bias - shorts paying gains to longs, but not an extreme "everyone loses" scenario. Fade is kind of like a "pull up" approach. Taken together, this suggests Solana's rise may be driven more by spot buying and ETF flows than over-leveraged speculation. To be honest, that’s pretty healthy in the cryptocurrency world: slow, steady, and even a little boring… but that’s a good thing.

Despite the strength in the ETF, the price is stalling at resistance.

In terms of price, the situation is more stubborn. At press time, Solana was trading near $163, down about 2.3% in the past 24 hours. Despite ongoing ETF inflows, the daily chart still shows clear signs of weakness. The price has been hovering around the $170 area and has encountered resistance multiple times, resulting in a consolidation phase now rather than a smooth rise. breakthrough.

Technical indicators also support this view. The relative strength index (RSI) does not show "strong buying momentum", but appears relatively flat, suggesting that buyers have not really stepped up their buying efforts. Advantages Currently, the Chaikin Capital Flow Index (CMF) is close to 0.00, which basically indicates that capital flows are in a neutral state. Simply put: Inflows through ETFs haven’t quite translated into strong spot demand on the charts…at least not yet.

If SOL fails to hold above $160, it is likely to fall back to the $150 area for a retest before actually trying to rebound. On the other hand, if SOL can forcefully break above the $170 resistance, a rebound is likely. The volume situation may soon be reversed. For now, though, the picture is clear: The structure is solid, and ETFs, while supported, remain constrained by technical bottlenecks—at least for now.

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