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>>The Bitwise Solana ETF debuts with $69.45 million in inflows as analysts target a $189 support level for SOL.

The Bitwise Solana ETF debuts with $69.45 million in inflows as analysts target a $189 support level for SOL.

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2 days ago

ETF Launch and Inflows

The Bitwise Solana Staking ETF (ticker BSOL) debuted on October 28 and drew $69.45 million in net inflows on its first day. Its assets quickly rose to $289 million, representing about 0.27% of Solana’s market capitalization. The launch marks a notable entry of Solana into mainstream financial products.

Institutional Appetite

Chief Investment Officer Matt Hougan said professional investors are attracted to Solana’s high on‑chain revenue and the ETF’s accessibility. Bloomberg analyst James Seyffart notes that Grayscale’s GSOL ETF also received regulatory approval, underscoring growing demand for diversified crypto exposure. By contrast, newly listed Canary HBAR and Litecoin ETFs opened with no inflows, highlighting Solana’s relative appeal.

SOL Price and Support

Solana (SOL) traded around $194.37, down 3.8% on the day but up 5% over the week, keeping a market cap near $106.8 billion. On‑chain data shows a strong buying zone near $189, where 24.5 million SOL were accumulated. This support level is expected to limit deeper corrections and could spark a bounce toward $210‑$225.

Technical Outlook

Analyst Sheldon The Sniper identified a symmetrical triangle forming below the $203 resistance. A break below the $185 support may trigger short opportunities, while a move above $205 could confirm a bullish reversal. Success above $205 might propel the price toward the next targets of $210 and $225.

The Bitwise Solana ETF debuts with $69.45 million in inflows as analysts target a $189 support level for SOL.

ETF Launch and Inflows

Institutional Appetite

SOL Price and Support

Technical Outlook

The Bitwise Solana ETF debuts with $69.45 million in inflows as analysts target a $189 support level for SOL.