Solana ETFs See $8.43M Inflows Despite Price Drop to $81

According to data from SoSoValue, U.S. spot Solana ETFs broke a two-day outflow streak on February 10, notching $8.43 million in net inflows—their highest daily volume since January 15. This inflow occurred against a grim backdrop: a 24-hour period that saw Solana’s price slip another 3.8%, extending a weekly decline of 15.5% to a trading price of $81.33. The session was dominated by a single product, with Bitwise’s BSOL capturing a commanding $7.70 million, or over 91%, of the new capital. Fidelity’s FSOL followed distantly with $732,040 in inflows, while other major sponsors including Grayscale, VanEck, and 21Shares saw flat or negligible movement.

The latest injection brings total assets under management for spot Solana ETFs to $700.21 million, which now represents roughly 1.49% of Solana’s total $46.3 billion market capitalization. While Solana’s daily inflows were modest compared to the $166 million flowing into Bitcoin ETFs and $13.82 million for Ethereum ETFs, they notably outpaced the $3.26 million recorded by XRP ETFs during the same period. This activity suggests a nuanced picture: while Bitcoin and Ethereum remain the primary destinations for institutional crypto ETF flows, Solana is maintaining a distinct, if smaller, foothold with specific products like BSOL attracting concentrated interest.

In stark contrast to the institutional inflows, sentiment among broader market participants has turned deeply bearish. Data from the prediction market Myriad, owned by Decrypt’s parent company Dastan, reveals a stark outlook. Users now assign a 65.4% probability that Solana’s next major price move will be a plunge to $40, versus only a 34.6% chance of a rally to $160. Furthermore, Myriad users place just a 9.1% likelihood on Solana achieving a new all-time high before July.

This pervasive pessimism is attributed to the fear gripping the broader crypto market following Bitcoin’s sustained price drop, which has triggered multiple liquidation events exceeding $1 billion in recent weeks. The divergence between ETF inflows and price action highlights a potential disconnect: sophisticated investors may be viewing current levels as a buying opportunity, while the retail cohort, perhaps more exposed to leverage and liquidations, is bracing for further pain. The outlook remains clouded by developing macroeconomic and geopolitical conditions, which have also weighed on traditional U.S. stock markets, even as safe-haven assets like gold hold steady.

The sustained downtrend has prompted analysts to recalibrate expectations. Earlier this month, international bank Standard Chartered slashed its 2026 Solana price forecast to $250 from a previous estimate of $310. However, the bank maintained a bullish long-term view, raising its forecast to $2,000 by the end of 2030. This revision encapsulates the current market dichotomy: near-term headwinds are forcing downward adjustments, while the long-term narrative for major blockchain assets like Solana remains intact for some institutional observers.

The challenge for Solana is multifaceted. It must navigate the same macroeconomic and crypto-specific headwinds affecting Bitcoin and Ethereum, while also contending with its own price tailspin, which now sits at a 42% decline over the past month. The fact that Tuesday’s significant ETF inflows did little to arrest the price decline underscores the powerful selling pressure in the market. For Solana to reverse the bearish sentiment reflected in prediction markets like Myriad, it will likely require a broader crypto market recovery, led by Bitcoin, to shift the prevailing risk-off mood and rebuild investor confidence.