SOL has just dropped to $179.22, down 12% over the past
month and posting a loss of around 4% since the start of 2025. Meanwhile,
Bitcoin and Ethereum have maintained gains of over 40% over the same period,
although both have also faced selling pressure recently.
Currently, data from CoinMarketCap shows SOL trading around $186 with a 24-hour trading
volume of $8.4 billion, up 9.14%.

Solana Spot ETF Attracts Capital But Token Price Fails

Bitwise’s Solana Staking ETF (BSOL), which launched on October 28, attracted $116 million in net inflows over the first two sessions, plus $223 million in seed investments, according to Farside Investors. Grayscale’s Solana Trust (GSOL), which converted from a closed-end fund to an ETF on October 29, ecorded a modest $1.4 million in inflows.

Overall, Solana spot ETFs are expected to attract more than $3 billion if they replicate the trend from Bitcoin and Ethereum ETFs.

However, the inflows have not been enough to lift the price of SOL, which has fallen 36.95% from its ATH of $294. Analysts from VanEck note that the spot ETF represents a turning point for institutional adoption, but market sentiment is still dominated by macro volatility.

$SOL is currently ranked 6th on CoinMarketCap with a market capitalization of $101 billion, down 5.72% in the last 24 hours.