SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying
Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout. On the institutional side, demand for spot Solana Exchange-Traded Funds (ETFs) remained firm, pushing total assets under management (AUM) to nearly $1 billion since launch. Moreover, the technical outlook suggests a potential upside breakout, with bulls aiming for levels above $160.
Institutional investors keep accumulating SOL.
The institutional demand for SOL continues to grow since its launch on October 28. SoSoValue data shows that spot Solana ETFs have recorded positive net inflows every week since their launch, with total net assets reaching $907.18 million on Monday. This persistent ETF inflow, despite recent price consolidation, suggests institutions are buying dips rather than exiting positions, signaling a bullish outlook for SOL.
Total SOL spot ETF net inflow weekly chart Source: SoSoValue
On the derivatives side, CoinGlass’s long-to-short ratio for SOL reads 1.07, the highest level in over a month. The ratio above one suggests bullish sentiment in the market, as traders are betting on the asset price to rally.
Source: Fxstreet
