Solana spot ETFs log 11 consecutive days of net inflows, Bitwise leads with $6.17 million

Solana ETFs sustain multi-day inflow streak

Exchange-traded funds (ETFs) tracking the Solana spot price in the United States have recorded net inflows for an uninterrupted period of 11 trading days. On September 2, these ETFs registered net inflows of $10.9 million, sustaining the bullish run established earlier in the month.

Total net inflows across all available Solana spot ETF products have reached $1.35 billion, while combined assets under management now stand at $1.39 billion. Daily trading volume for these funds reached $68.55 million.

Bitwise, a leading asset manager in the digital assets sector, secured the largest daily inflow among ETF providers with $6.17 million added. Fidelity followed with $2.67 million, and Morgan Stanley contributed $1.36 million. Other registered funds did not report new capital inflows for the same period.

Bitwise currently manages $949.83 million in assets and has accumulated $1.03 billion in total lifetime net inflows, reinforcing its position as the market leader among Solana spot ETF providers.

Market participants have pointed to the persistent inflows as evidence of strong institutional demand for Solana exposure, even amid periods of increased price volatility.

Spot price and technical levels for SOL

SOL fell as low as $99.35 during the recent session, briefly testing but ultimately holding above the psychologically important $100 mark. The trading range remained constrained between $97.38 and $100.71 for much of the period, suggesting ongoing consolidation near key support levels.

Analysts regard $95 as a critical support area for SOL. Holding above this level is considered vital for maintaining the current uptrend. A strong daily close above $100 could pave the way for a move towards the $110 resistance zone, with $120 noted as a subsequent target should upward momentum continue.

Derivatives market activity increases

Solana derivatives trading saw a notable 22% rise in volume, reaching $9.43 billion. However, open interest dipped by 1.4% to $6.47 billion, indicating that some leveraged positions were closed or liquidated.

Options trading volume increased by 19.3% to $15.18 million, while options open interest climbed 2% to $135.98 million. The Relative Strength Index now reads 62.15, retreating from recent overbought conditions, and the Chaikin Money Flow indicator stands at 0.25, indicating ongoing capital accumulation in SOL.

Cryptocurrency market analyst Ali Charts assessed the technical outlook and noted a shift toward a bullish configuration. According to his analysis, conditions may favor further upward movement if current support levels are defended.

Cryptocurrency market analyst Ali Charts urged market participants to reconsider bearish views on Solana, highlighting that technical patterns are turning bullish and encouraging traders to position themselves ahead of a potential major price move in $SOL.

Longer-term projections from technical analyst Wealthmanager place a price objective at $250 for SOL if previous resistance levels are validated as new support after a successful breakout from the existing macro downtrend.

In a downside scenario, failure to maintain support above $95 may open the door to further declines, with $90 and $80 acting as potential next support zones.