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Solana News Update: Solana ETFs Draw $370 Million in Investments While Token Approaches $100 Support Level

Solana News Update: Solana ETFs Draw $370 Million in Investments While Token Approaches $100 Support Level

Bitget-RWA2025/11/17 23:36
By:Bitget-RWA

- VanEck submitted a Form 8-A for its Solana ETF, nearing SEC approval as the first U.S. spot SOL ETF candidate. - Canary Capital paused Solana ETF filings to await regulatory clarity, contrasting with VanEck's aggressive filing strategy. - Solana's price fell to $142 amid $370M ETF inflows, highlighting divergent institutional demand and bearish technical indicators. - Staking features and institutional adoption boost long-term SOL appeal, but short-term risks include $100 support breakdown and regulatory

VanEck's latest regulatory submission has established the asset manager as a key contender in the effort to introduce a

(SOL) spot ETF to the U.S. market. On November 13, 2025, the company filed a Form 8-A with the Securities and Exchange Commission (SEC), . This step aligns with a wider industry movement to broaden crypto-asset investment options beyond and . VanEck’s ETF is designed to directly hold tokens and mirror the MarketVector Solana Benchmark Rate. The filing further , depending on regulatory and tax factors—a feature that could appeal to investors seeking yield.

At the same time, competitor Canary Capital Group has halted new Solana ETF applications,

, which is a stricter path for ETF approval. Canary’s current spot ETF, which debuted earlier this month, has already reached $58 million in trading volume, surpassing some Solana-related funds. The company’s CEO, McClurg, over Solana, which is still closely associated with crypto-native platforms.

Solana News Update: Solana ETFs Draw $370 Million in Investments While Token Approaches $100 Support Level image 0
Despite increasing interest from institutions, Solana’s native asset has faced significant price swings. , after breaking through important technical support and ending a multi-year upward trend. Although Solana ETFs have attracted $370 million in total inflows, , with net inflows falling to $1.49 million, raising concerns about decreasing investor interest. Broader market movements have worsened the price drop, including and $1.4 billion in net outflows from U.S. ether ETFs.

Analysts are highlighting a precarious technical situation for SOL.

a crucial support area near $140, with limited buying interest below that level. Furthermore, to absorb additional losses, increasing the likelihood of a slide toward $100. This stands in contrast to , which recorded $118 million entering Solana last week, largely due to new U.S. spot ETFs offering staking.

The gap between ETF inflows and price performance underscores the difficulties facing this asset class. While VanEck’s application and staking options may support long-term demand, short-term market sentiment remains negative.

, and the funding rate adjusted for open interest turned negative, signaling that traders are favoring short positions.

Institutional involvement with Solana extends beyond ETFs.

from its Solana-based assets in its third-quarter report, highlighting the blockchain’s rising popularity as a treasury holding. Meanwhile, VanEck’s soon-to-launch ETF could further mainstream institutional participation, though .

As the SEC continues to review crypto-ETF applications, the upcoming weeks will be crucial for Solana. A successful ETF launch could restore investor optimism, but the risk of SOL dropping to $100 remains amid ongoing market uncertainty.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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