Solana spot exchange-traded funds recorded $220 million in trading volume on Jan. 6, surpassing the October launch peak and raising questions about whether the surge represents sustainable interest or a temporary anomaly. The spike coincided with a price rally and Morgan Stanley filing for its first Solana and Bitcoin ETFs.
What Happened: Record Volume
SOL spot ETF volume hit $220 million on Jan. 6, significantly exceeding the previous record of $122 million set on Oct. 28 during the initial launch period.
The U.S. Securities and Exchange Commission approved Solana spot ETFs in October 2025, making them considerably newer than Bitcoin products launched in January 2024 and Ethereum funds approved in July of that year.
After the October launch excitement faded, SOL ETF volume declined sharply and remained subdued through the end of 2025.
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Why It Matters: Uncertain Pattern
Analysts noted that Bitcoin ETFs have demonstrated two distinct volume surge patterns over their two-year history: healthy, sustained increases that support price movements and sudden spikes that mark local reversals.
The sharp surge in Solana ETF volume could represent an anomaly or signal a new baseline for trading activity.
With spot ETFs still in their early months, the pattern remains uncertain and the limited sample size prevents definitive conclusions about whether the Jan. 6 spike indicates sustained institutional interest or a temporary event.
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