Solana ETFs see record $188 million weekly inflows amid price volatility

Solana (SOL) is experiencing significant volatility despite recent inflows into crypto exchange-traded funds (ETFs). During the week ending September 28, seven Solana spot ETFs captured nearly $188 million, a record for the asset class in the U.S. market. Bitwise's BSOL fund led these inflows, accounting for approximately $128 million, or 68% of the total weekly intake.

Despite this institutional interest, the price of SOL has faced downward pressure, recently trading below the $120 mark. The asset has tested support levels around $116.58 and $118, following a period where it struggled to maintain levels above $120. Technical indicators show a cooling of momentum, with trading volumes falling below 30-day averages.

In a notable institutional move, Lion Group rotated $20 million in SOL toward Hyperliquid. While short-term price action remains constrained within a narrow range, long-term moving averages suggest the underlying bullish structure remains intact.