Key TakeawaysSolana (SOL) price hovers around $194.56, showing +0.31% daily growthGrayscale and Bitwise ETFs spark $117M+ institutional inflows, but performance weaker than expectedTechnical indicators remain mostly neutral, signaling market indecision SOL Price Action TodaySolana price traded around $194.56, gaining 0.31% on Thursday as investors mulled over the fresh ETF launches from Grayscale Investments and Bitwise Asset Management. The move follows the debut of two staking-enabled Solana ETFs, giving institutional investors direct access to yield-bearing Solana exposure. ETF Launch Fuels Institutional InterestThe Grayscale Solana Trust ETF (GSOL) began trading on the NYSE Arca, seeded with $102.7 million in assets. Meanwhile, the Bitwise Solana Staking ETF (BSOL) launched a day earlier with $222.9 million AUM and recorded $72 million in trading volume by its second day.Together, both funds have attracted over $117 million in new inflows, underscoring growing institutional confidence in Solana ETFs and staking-enabled digital assets. Market Context and Technical OverviewDespite strong inflows, SOL remains below the $200 psychological level. Technical data indicates mixed momentum:Relative Strength Index (RSI 14) at 47.19, reflecting neutral momentum.MACD (12,26) at –3.95, and Momentum (10) at 4.85, highlighting a tug-of-war between short-term strength and mid-term caution.Exponential Moving Average (EMA 10) sits at $194.16, nearly aligned with the spot price, suggesting low volatility and market indecision.Source: TradingViewAnalyst Insight: “Sell-the-News” or ETF Maturation Phase?Analysts from Hyblock noted parallels with Bitcoin’s ETF debut, where prices initially stalled before major inflows lifted sentiment. “The SOL ETF may be going through a similar cycle as early excitement fades,” they commented, citing FOMC-related de-risking among institutions.On-chain metrics show long-term holders reducing exposure, with Glassnode data indicating a drop in wallets holding SOL for 1–2 years from 20.33% to 18.48%. Additionally, the Chaikin Money Flow (CMF) has turned negative (-0.06), suggesting institutional outflows and potential profit-taking pressure. SOL Outlook: Price Levels to WatchTraders are eyeing the $192–$206 trading corridor as a key decision area.A sustained break above $206 could reignite bullish momentum, targeting $237.A fall below $192 might expose support near $182.Upcoming catalysts include ETF inflow data, FOMC outcomes, and the Alpenglow network upgrade, which aims to reduce block finality to 150ms by Q1 2026—a move analysts say could enhance network resilience and DeFi competitiveness.
Hui Xin
Jixu
Jasper
Aaron
Alex