• Solana ETF attracted $417 million in inflows, surpassing all crypto ETFs.
  • Analysts expect short-term Solana momentum as capital rotates from Bitcoin and Ethereum amid consolidation phases.

Bitwise’s Staking Solana (BSOL) ETF began trading with a remarkable performance in its first week, drawing $417 million in inflows and surpassing every other crypto ETF worldwide. The strong start positioned BSOL among the top 20 ETFs across all markets by net inflows, according to Bloomberg’s Eric Balchunas.

This influx of funds placed the Solana ETF far ahead of its closest competitors. BlackRock’s iShares Bitcoin Trust , normally seen as a strong inflow leader, experienced a rare pullback. Data from SosoValue showed around $254 million leaving the product during the same week. 

The NEOS Bitcoin High Income ETF recorded $56.17 million, and Grayscale’s Ethereum fund followed closely with $56 million, marking a shift in fund allocation patterns among investors.

What a week for $BSOL , besides the big volume, it led all crypto ETPs by a country mile in weekly flows with +$417m ($IBIT had a rare off week, it'll be back). It also ranked it 16th in overall flows for the week. Big time debut. pic.twitter.com/HpKUTdq1J5

— Eric Balchunas (@EricBalchunas) November 1, 2025

Capital Rotation Fuels Solana ETF Interest

However, the strong ETF performance did not lead to a positive price reaction for the SOL price. The token declined by roughly 5.81% over the past day and traded near $175.34. 

Price behavior signaled that funds entering BSOL may have originated from reallocated capital.

Vincent Liu of Kronos Research noted ongoing interest in staking-focused funds and narratives around yield opportunities. Liu said,

Solana ETFs are surging on fresh catalysts and capital rotation, as Bitcoin and Ether see profit-taking after strong runs. 

Liu suggested the trend could continue in the near term as Bitcoin and Ethereum consolidate. Liu added,

Solana momentum may extend next week, with rotation staying alive while majors pause, unless macro news sparks extreme volatility.

Bitwise Confident Despite Market Pullback

Despite Solana’s short-term price decline, Bitwise’s Chief Investment Officer Matt Hougan remains optimistic about the project’s direction. Hougan pointed to growing usage connected with stablecoin transfers and tokenized asset activity, supported by Solana’s performance capacity and active developer base. Hougan said,

If I’m right, the combination of a growing market and a growing share of that market will be explosive for Solana.

His comments reflect confidence that Solana’s expanding ecosystem could eventually translate into stronger price performance.

On-chain data from Token Terminal supports this optimism. Applications on Solana currently hold more than $40 billion in user assets, with the token trading at around 3.2 times its total value locked. Such figures point to a network that continues to attract sustained developer and user activity.

At present, SOL faces immediate resistance around $182, followed by $185 and $188. Analysts say a break above the $188 range could signal a recovery toward $192 and possibly $200.

If Solana fails to hold current levels, it faces support around $172. A drop below $165 could open the way for a test near the $150 zone.