U.S. spot Solana exchange-traded funds recorded $23.57 million in net inflows Wednesday, marking their highest daily total in four weeks.
The inflows represent less than 1% of Solana's daily trading volume, limiting their immediate price impact.
SOL trades around $145, flat over 24 hours but up 8% over the past week, while Bitcoin hovers near $97,000 amid improving investor sentiment.
Analysts remain cautious about whether recent ETF demand signals a sustained trend reversal for altcoins broadly.
What Happened
Lacie Zhang, market analyst at Bitget Wallet, said the netflow provides momentum to potentially break Solana's subdued trend if sustained.
The inflows coincide with broader market recovery and could propel prices toward $150, she added.
However, Illia Otychenko, lead analyst at CEX.IO, said current demand isn't strong enough to sustain bullish momentum or trigger a clear trend change.
Solana ETF total net assets account for only 1.5% of SOL's market capitalization, with daily trading volume below 1% of total Solana spot volume.
Traders on prediction market Myriad assign just 17% probability to an altcoin season beginning in Q1 2026, up marginally from 16% at the week's start.
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Why It Matters
Nine of the 22 fastest-growing companies to reach $100 million in revenue are built on Solana, according to investment firm FrictionlessVC.
Solana-based Pump.fun doubled active addresses over the past week, with daily token creation surging to nearly 31,000, per Dune analytics.
Yet broader network metrics show pressure, with declines in DEX trading volume, transaction activity, and total app revenue in recent months.
While certain applications demonstrate growth, the network as a whole faces headwinds despite institutional interest, Otychenko noted.
Zhang suggested any perceived lag may stem from temporary market volatility, with such disconnects often preceding bullish breakouts.
The outlook among major altcoins including Solana, XRP, and BNB remains subdued, with rallies largely confined to narrative-driven sectors like privacy coins and meme tokens.
Sustained ETF demand would signal increasing institutional confidence in Solana's scalability and real-world utility, Zhang said.
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