Key Insights
- Solana ETFs record $8.10 million outflow on November 26, ending 21-day streak.
- 21Shares TSOL leads withdrawals with $34.37 million, while Bitwise adds $13.33 million.
- Solana price trades at $140, down 27.6% over 30 days, but gains 12% weekly.
Solana ETFs experienced their first outflow in 21 trading days with $8.10 million in net redemptions on November 26.
Data from SoSoValue shows the exit ended the longest consecutive inflow streak since product launches. Trading volume reached $50.61 million, with total net assets standing at $917.99 million.
Individual provider performance showed mixed results, with 21Shares TSOL recording the largest outflow at $34.37 million. Bitwise BSOL attracted $13.33 million in inflows, leading to positive flows.
Solana ETF Records First Outflow After Three-Week Streak
The November 26 outflow was the first negative day for Solana ETFs since the products began their 21-day positive run.
SoSoValue data shows daily net inflows consistently positive from early November through November 25. The $8.10 million withdrawal is 1.3% of cumulative inflows.
Total net assets dropped from $888.25 million on November 25 to $917.99 million.
Trading volume of $50.61 million on November 26 fell below recent averages. November 25 recorded $37.51 million in volume, while November 24 showed $62.25 million. The November 21 session peaked at $69.87 million, which is the highest recent activity.
Cumulative total net inflows peaked at $621.32 million on November 25 before declining to $613.22 million. The products launched in late October with initial cumulative flows of $69.45 million on October 28.
Provider Performance Shows Mixed Activity
21Shares TSOL on CBOE dominated outflows with $34.37 million in redemptions and 240,120 Solana withdrawn. The fund maintained $86.92 million in net assets. Cumulative flows for TSOL turned negative at $26.22 million.
Bitwise BSOL on NYSE led inflows with $13.33 million contributing 93,170 Solana to holdings. The fund holds $631.20 million in net assets, representing the largest product by size.
Grayscale GSOL on NYSE added $10.42 million with 72,840 Solana entering the fund. Total net assets stand at $148.28 million with cumulative inflows of $73.50 million.
Fidelity FSOL on CBOE contributed $2.51 million with 17,550 Solana added to holdings. Net assets total $34.74 million with cumulative inflows of $29.89 million.
VanEck VSOL on NASDAQ and Canary SOLC on NASDAQ both recorded zero flows. VanEck holds $15.76 million in assets while Canary maintains $1.10 million.
Historical Context Of 21-Day Positive Flow Period
The 21-day inflow streak began in early November with consistent daily positive flows. November 25 recorded $53.08 million. November 24 showed $57.99 million and was the second-highest single-day total. On November 6, it peaked at $29.22 million during the streak.
Daily flows ranged from a minimum of $1.49M on November 13 to a maximum of $70.05M on November 3.
Total net assets grew from $288.92 million on October 28 to $917.99 million on November 26. The $629.07 million increase shows both net inflows and Solana price appreciation.
Assets peaked at $888.25 million on November 25 before declining slightly. Trading volume varied from $23.52 million minimum on November 11 to $79.50 million on October 29.
Cumulative inflows expanded from $69.45 million at the October 28 launch to $621.32 million peak on November 25.
October ended with $199.21 million cumulative on October 31. November 3 reached $269.26 million. Mid-November saw cumulative flows exceeding $400 million milestone. Late November crossed $600 million threshold before the November 26 reversal.
Analysts Project Recovery Despite Short-Term Weakness
Analyst Gordon maintained a bullish Solana outlook, citing on-chain activity and ETF inflows. The post referenced the inflation reduction proposal as a positive catalyst.
Gordon stated $500 Solana remains possible by 2026 despite current consolidation. The target is a 257% gain from the current $140 levels. Most on-chain activity and big ETF inflows support a higher price thesis.
The Crypto GEMs identified Solana bouncing from the key demand zone at $121.66. The analysis stated buyers stepped in aggressively at the support level.
Current trading at $140.82 shows strength building toward $144 resistance test. A break above $144 could cause a surge toward higher targets.
Support levels identified at $138, $130, and $121. Resistance zones are located at $144, $152, $163 and $174.
Solana price performance shows mixed timeframes with 12.0% seven-day gain contrasting 27.6% monthly drop.
Price recovery from the $121.66 support to the current $140 is a 15% bounce. The resistance test at $144 is the next level deciding continuation or rejection.
Vignesh Karunanidhi is a seasoned crypto journalist and content editor with 7 years of experience in the crypto and Web3 space. Throughout his career, he has worked with leading platforms such as Watcher.Guru, Milk Road, BeInCrypto, Captain Altcoin, and Coin Edition, producing over 10,000 news articles, blogs, and guides on cryptocurrency.
