Solana Holds Steady at $158 Amid ETF Inflows and Crypto Rotations

Solana’s SOL token stabilized around $158, following a 40% decline from October highs above $260, as investors shifted funds from Bitcoin and Ethereum to high-performance blockchains like Solana. Spot Solana ETFs have seen $336 million in inflows since their November 5 launch, including $136.6 million this week, while Bitcoin and Ethereum ETFs recorded outflows of $1.2 billion and $507.7 million respectively. Solana’s network handled 543 million transactions and $29 billion in DEX volume last week, outpacing Ethereum’s activity and indicating robust adoption.

Solana’s Strong Fundamentals Amid Price Pressure

Despite a sharp price pullback, Solana’s on-chain metrics remain exceptional. The network processed 543 million transactions last week, accompanied by $29 billion in DEX volume—surpassing Ethereum’s activity and underscoring its scalability edge. This operational strength, paired with surging ETF demand, signals growing institutional conviction even as retail sentiment cools.

ETF Inflows Signal Institutional Confidence

Spot Solana ETFs have attracted $336 million in inflows since their November 5 launch, including $136.6 million this week alone. In contrast, Bitcoin ETFs saw $1.2 billion in outflows, while Ethereum funds lost $507.7 million. Bitwise’s Solana Staking ETF (BSOL) leads the pack with $545 million in net inflows since its October 28 debut on the NYSE, including $223 million in seed capital.

Over that period, the 11 spot Bitcoin ETFs have lost more than $2.1 billion in assets, while net outflows for the nine Ethereum funds have totaled $579 million. The Bitwise Solana fund’s promising start comes even as SOL’s price has been dropping, part of a market-wide downturn tied to a government shutdown and other macroeconomic uncertainties.

Solana was recently trading at $156, off more than 16% for the past week and nearly 29% over the last month, according to crypto markets data provider CoinGecko. Bitcoin has declined about 16% since early October when it rose to a record high above $126,000.

A Myriad prediction market found that only 13% of respondents expect Solana to surpass its record high of $293 by year’s end. Myriad is a unit of Dastan, the parent company of an editorially independent Decrypt. In a text to Decrypt, Senior Analyst Sumit Roy wrote “the (Solana) inflows make sense,” noting the token’s massive $90 billion market value: “Solana has a devoted following, arguably the most devoted following after Bitcoin and Ethereum.”

He added: “It wouldn’t be surprising to see Solana ETFs collectively account for 5% of that market cap at the very least. So in that context, $500M is still small. The fact that BSOL launched with 100% staking certainly made it more attractive as well.”

The listing of the Bitwise fund and a Grayscale Solana ETF last week surprised some hopeful observers, who had feared the current government shutdown would delay a regulatory process that had already taken months.

ETF Inflows Signal Institutional Confidence

The $336 million in Solana ETF inflows since launch, including $136.6 million this week, contrasts sharply with Bitcoin and Ethereum’s outflows, highlighting Solana’s appeal to institutions seeking high-performance alternatives. Bitwise’s BSOL, with $545 million in net inflows since October 28, including $223 million in seed investments, demonstrates the hunger for SOL exposure. “Inflows every day for the last 8 days since its launch,” Bitwise CEO Hunter Horsley noted, emphasizing the token’s dedicated following.

This institutional shift comes as Solana’s network demonstrates superior activity, processing 543 million transactions and $29 billion in DEX volume last week—outpacing Ethereum. Despite SOL’s 16% weekly decline to $156 and 29% monthly drop, the ETF momentum suggests a decoupling from broader market woes tied to government shutdowns and macroeconomic uncertainty.

Conclusion

Solana’s ETF momentum represents more than a fleeting rotation—it’s a structural shift toward high-performance blockchains. With $336 million in fresh capital flowing in amid Bitcoin and Ethereum outflows, institutions are voting with their wallets. Backed by unmatched network activity and a staking yield advantage, SOL’s $158 floor may prove temporary. In a market gripped by macroeconomic uncertainty, Solana’s fundamentals and institutional backing position it as 2025’s standout contender.