U.S. spot Solana exchange-traded funds recorded inflows of about $23.6 million on Wednesday, the largest daily net addition in four weeks, according to SoSoValue data. The flows arrived as Bitcoin traded near $97,000 and investor sentiment improved, while Solana held around $145, up roughly 8% for the week.
Lacie Zhang of Bitget Wallet said the flows add momentum and could lift prices if they continue; she called them “substantial momentum to potentially break Solana’s recently subdued trend,” and added they “coincides with broader market recovery and could propel prices toward $150 if sustained.”
The scale of the inflows remains small versus overall activity (Ed. note: ETF flows represented less than 1% of daily Solana spot volume). Illia Otychenko, Lead Analyst at CEX.IO, said, “The current demand is not strong enough to sustain bullish momentum or trigger a clear trend change,” and noted ETF assets equal about 1.5% of SOL’s market cap.
Major altcoins remain muted, with rallies mostly in narrative-driven niches. Traders on prediction market Myriad assign a 17% chance that an alt season begins in Q1 2026, up from 16%, per the market page.
Some fundamentals show strength: FrictionlessVC notes nine of 22 fastest-growing companies to $100 million revenue are built on Solana. The meme platform Pump.fun doubled active addresses and saw nearly 31,000 daily token creations, per Dune analytics.
Otychenko also highlighted recent declines in DEX volume, transaction activity, and total app revenue. He said some apps grow, but the network overall remains under pressure.
