Solana News Update: Solana ETFs Attract $370 Million Despite 34% Price Drop—Institutional Optimism Defies Negative Sentiment

Despite a significant downturn in Solana’s price, spot ETFs tied to the asset have continued to draw institutional funds, particularly in the U.S.

saw a net inflow of $12 million just on Thursday, . Over the last 13 days, , with products such as Bitwise’s BSOL and Grayscale’s GSOL leading the way. Still, in just two weeks, breaking through major technical supports like the multi-year uptrend and the 100-week simple moving average, underscoring a disconnect between ETF inflows and overall market mood.

stands in contrast to the broader crypto market, in a single day. Experts , with technical signals like the RSI dropping to its lowest since April 2025 and UTXO Realized Price Distribution (URPD) data below $140. Should this threshold not hold, may serve as the next major support, though a further slide to $95 is still possible.

Institutional trust in

remains strong. Even after a 4% dip in a day and a decline of over 20% in 11 days, , reaching $351 million in total. has also introduced options trading for Solana ETFs, marking a first for the network and giving investors new ways to hedge or speculate. , described this development as a “remarkable” achievement for institutional investors.

Yet,

. that ETF inflows for Solana are outpacing the token’s price drop, raising concerns about whether this trend can last. At the same time, — dropping to $6.78 million on November 10 — reflecting reduced enthusiasm, with in overall demand.

were further complicated by the debut of the Canary Capital XRP ETF, which with $58 million in trading volume on its first day. This has , as VanEck’s application for a third U.S. Solana ETF points to regulatory advances and broader institutional participation.

, with the RSI hovering near 40 and the MACD in negative territory, indicating ongoing downward momentum unless crucial supports are maintained. , Solana may revisit $120 in November, and if conditions worsen, could drop to $80 by December.

. Bitwise’s early launch of the Solana ETF during the SEC shutdown has prompted rivals to speed up their own plans, with companies like VanEck and Fidelity updating their filings to keep pace. to introduce altcoin ETFs as a high-stakes contest, where being first could attract substantial investment.

As Solana navigates this turbulent market, investors are encouraged to keep an eye on both technical support levels and broader economic trends. While institutional interest offers a base for long-term optimism, short-term price moves will likely be shaped by market corrections and regulatory shifts.