Solana Whales Dominate Futures As Spot ETFs Pull $35M, Retail Stays Sidelined
Spot Solana (SOL) ETFs have crossed $1 billion in assets, with Goldman Sachs disclosing a $108 million position as whales dominate Futures flows.
Goldman Anchors ETF Inflows
The funds pulled in $35.17 million last week, stretching a run of five straight positive sessions, FinanceFeeds reported.
Bitwise’s BSOL leads the pack with roughly $620 million, or about 62% of the SOL ETF market, MEXC data show.
Goldman’s stake ranks as the second-largest institutional SOL ETF holding, with Morgan Stanley, VanEck and market makers also on the cap table.
SOL traded near $87 on Saturday, still about 71% under its January 2025 peak of $294.
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Whales Run the Tape
CryptoQuant data show Solana Futures activity since February has been driven by oversized whale orders, even as spot volumes stay in a cooling phase.
Retail prints were heavier during the November and December slide, when SOL fell from near $190 toward $120, but that participation has since faded.
JPMorgan has projected $6 billion in total SOL ETF inflows over time, leaving roughly $4.55 billion still on the sidelines based on cumulative flows of $1.45 billion since launch.
Solana has struggled to retake the $86.82 to $88.46 resistance band this month, with analysts flagging $80 as the line that has to hold.
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