Spot Solana ETFs Post Biggest Weekly Inflows Since February

Spot Solana exchange-traded funds recorded more than $39 million in net inflows last week, the strongest weekly inflow streak since February, as SOL climbed roughly 15% to trade near $97. Traders have referenced a $120 target for the token.

Most of the inflows came to Bitwise’s BSOL, which drew about $36 million over the week. Fidelity’s FSOL added roughly $1.8 million. Since launch, BSOL has gathered about $861 million, representing more than 80% of cumulative spot Solana ETF inflows. Total inflows across spot SOL ETFs are near $1.06 billion.

Derivatives metrics showed increased activity alongside ETF flows. Open interest in Solana futures rose to about $6.4 billion from $4.94 billion on May 1. Aggregated spot cumulative volume delta, which measures the net difference between buying and selling orders, climbed to nearly $250 million from $163 million over five days as SOL approached the $96 level. Futures cumulative volume delta increased to about $593.6 million after steady gains beginning May 5. Funding rates remained positive at about 0.065%, indicating traders were paying small premiums to hold long futures positions.

Technical analysts reported a double-structure base on higher time-frame charts and pointed to Solana reclaiming its 100-day exponential moving average for the first time since October 2025. Some analysts said the chart pattern and the lack of visible resistance between $95 and $120-after a roughly 42% correction earlier this year-support a scenario in which a breakout could reach the $120 area.

Short-term momentum showed signs of softening near the $95–$96 range. Spot buying and trading volume flattened over the past 24 hours, and analysts identified $89–$91 as the nearest support zone that could be tested on a pullback.

On relative performance, SOL broke above a 231-day downtrend in the SOL/BTC daily chart, a development highlighted by crypto analyst BATMAN as evidence of improving strength versus Bitcoin. Market observers also noted, “buyers keep buying on sell-side liquidity and, in a volatile time, bullish traders are hanging in, hanging out.”

Traders and analysts will continue to monitor ETF inflows, futures open interest, cumulative volume deltas and funding rates to see whether current positioning and flows are sustained and whether they coincide with further price moves toward the $120 area.