Solana (SOL) exchange-traded funds have attracted $30.33 million in net inflows since Feb. 10, logging only three negative days this month, even as Bitcoin (BTC) and Ethereum (ETH) ETF products hemorrhaged a combined $1.43 billion over the same period.
What Happened: Solana ETFs Defy Trend
Bitcoin ETFs recorded inflows on just seven trading days in February, but those positive sessions were not enough to offset the damage. Net outflows for the month reached $939.94 million as of Feb. 24.
Ethereum ETFs followed a similar trajectory, posting $490.58 million in net outflows.
Demand for both products has been inconsistent, reflecting caution among institutional allocators amid heightened macro uncertainty.
Solana-linked funds, by contrast, have maintained consecutive inflows since mid-February. XRP (XRP) ETFs fared worse, experiencing outflows on three sessions and recording zero flows on four others.
In absolute terms, Solana ETF inflows remain far smaller than those associated with Bitcoin products. Bitcoin and Ethereum funds still account for the vast majority of institutional crypto exposure and capital allocation, meaning the divergence may reflect short-term rotation rather than a fundamental shift in positioning.
Why It Matters: Price at Inflection
Despite the ETF tailwind, SOL has declined 32.8% over the past month, mirroring weakness across major digital assets. The token traded at $82.15 at press time after a 7% intraday bounce as the total crypto market cap expanded by roughly $32 billion.
Technical analysts remain cautious. Market commentator Alejandro identified $45 as a potential downside target, while analyst Whale Factor described SOL as entering a high-probability "make or break" zone on the 4-hour chart, noting the wedge formation is nearing exhaustion.
Whale Factor outlined the two scenarios: a clean break above $82 could target the $97-$100 macro resistance zone, while a failure to hold $78 support would open the door to a retest of $68. Whether the ETF inflow streak can translate into sustained price support remains an open question.