Solana Spot ETFs See $39M Inflows, Strongest Since Feb

Solana spot exchange-traded funds recorded net inflows of approximately $39 million over the past week, marking their strongest weekly performance since February, according to data from SoSoValue.

The surge was led by Bitwise's BSOL, which drew in about $36 million during the period, while Fidelity's FSOL added roughly $1.8 million. Since their launches, these products have accumulated a combined $1.06 billion in inflows, with BSOL accounting for 81 percent, or $861 million. The inflows coincided with a 15 percent rise in Solana's price over the seven days, pushing it toward the high $90s and stabilizing near $97.

Market activity in derivatives reinforced the momentum. Open interest in Solana futures climbed to $6.4 billion from $4.94 billion on May 1, a 29.5 percent increase in less than two weeks, based on CoinGlass data. Cumulative volume delta in spot markets rose by nearly $250 million over five days, up from $163 million, while futures CVD reached about $593.6 million. The funding rate held steady near 0.065 percent, reflecting sustained long positions among traders.

Technical indicators suggest potential for further gains. Solana closed above its 100-day exponential moving...