Solana ETF outflows reach $24.8 million, end 14-week run

Solana ETF outflows reach $24.8 million, ending a 14-week inflow run

U.S. Solana ETFs lost a net $24.8 million in the week ended Oct. 9, their first losing week since June, data published Oct. 11 show.

The quick take

Price: Solana ($SOL) trades at $112.51 on Binance’s SOL/USDT pair, +2.2% ↑ in 24 hours, as of 1:41 p.m. ET, Oct. 11.
Trigger: Solana funds lost money in all five trading sessions of the week ended Oct. 9, their first losing week since June.
Watch: The next daily flow numbers, to see whether buyers return while $SOL climbs.

Solana ETF outflows reached $24.8 million in the week ended Oct. 9, CryptoSlate reported, citing SoSoValue data. The loss ended a run of 14 straight weeks of inflows for funds that hold Solana ($SOL).

What happened

U.S. spot Solana ETFs saw money leave on every trading day of the week, according to CryptoSlate. Monday’s $9.25 million exit was the largest, followed by $4.80 million on Wednesday. The funds held $1.73 billion in net assets when the week closed, the same report said.

Decrypt counted the same $24.8 million in outflows for October so far. It put Friday’s exit at $3.8 million, the fifth day in a row of withdrawals. The only October inflow was $1.3 million on Oct. 2, Decrypt said.

Why it moved

The selling hit the largest crypto funds much harder. Bitcoin ($BTC) ETFs lost $681.1 million in the week and Ether ($ETH) ETFs lost $542.07 million, CryptoSlate reported. With Solana included, about $1.25 billion left the three groups of funds.

XRP ($XRP) funds went the other way, adding $11.31 million for a 13th straight week of inflows. Neither report names one clear reason for the exits.

What to watch next

The token itself is holding up. $SOL rose 2.2% over 24 hours to $112.51 on Binance, as of 1:41 p.m. ET. Bitcoin gained 1.1% and Ether 1.6% over the same span, according to LiveCoinWatch.

Money parked in Solana DeFi apps stands at $6.25 billion, per DefiLlama. The next ETF flow report will show whether last week’s exits were a pause or the start of a longer pullback.

Bottom line: Solana funds posted their first weekly outflow since June, but the $24.8 million loss was small next to the $1.2 billion that left Bitcoin and Ether funds.

Price data: Binance (SOL/USDT).