Solana’s [SOL] institutional interest is heating up once again, as U.S.-listed Solana spot ETFs recorded $9.7 million in inflows over the past 24 hours. The surge marks another strong session for the recently launched funds, signaling renewed appetite from institutional investors.
According to data from Farside, BitwiseInvest’s BSOL ETF led the charge with $7.5 million in inflows, while Grayscale’s GSOL ETF added $2.2 million. Together, both funds have now accumulated approximately $294 million in total inflows since their market debut, marking a significant milestone for a non-Bitcoin, non-Ethereum crypto ETF.
This momentum highlights Solana’s growing appeal among institutional players who are increasingly seeking exposure to alternative blockchain assets. The latest inflows coincided with a notable technical rebound in SOL’s price, which recently bounced off a key support level near $150.
Technical Indicators Signal Bullish Momentum
On the daily chart, Solana is showing renewed strength, with its Stochastic RSI rebounding from an oversold region—an indicator that typically precedes upward momentum. This suggests that the altcoin’s bullish sentiment may continue in the short term.
The ETF inflows appear to be supporting this recovery, signaling that institutional accumulation could be cushioning recent market weakness. Analysts note that if this trend continues, Solana could sustain its bullish trajectory toward the $200 psychological resistance level.
Derivatives Market Reflects Strengthening Bullish Bias
Zooming into derivatives data, Solana’s Funding Rate stood at -0.179 at press time. A negative funding rate often indicates that long-position holders are paying shorts, reflecting strong conviction among bullish traders.
Meanwhile, short liquidations surged to $2.63 million in the last 24 hours, according to Coinalyze, implying that bearish traders are being squeezed out as prices rebound. Historically, such short squeezes often trigger additional upward price movement as momentum accelerates.
Institutional Support Could Fuel Next Rally
The key question now is whether the steady inflows into Solana ETFs will translate into sustained price growth. Analysts believe that continued institutional investment—combined with favorable technical and on-chain indicators—could power SOL toward the $200 mark in the coming weeks.
If the broader crypto market stabilizes, Solana’s rising institutional backing and improving on-chain activity could position it as one of the standout performers in the altcoin sector heading into November.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
