Bitwise Extends Solana (SOL) Buying Streak to 7 Days With $9.65M Purchase

Bitwise Extends Buying Streak to Seven Days

Bitwise's spot Solana ETF has now purchased Solana (SOL) on seven consecutive trading days, taking in roughly $9.65 million in fresh capital as of September 28 — a run of accumulation that persisted even as the token's price briefly turned negative. The on-chain flow data tracked from SosoValue shows the fund kept attracting new money through the recent dip, underscoring how institutional demand for Solana ETF flows has decoupled from short-term price action. With the latest purchase, cumulative net inflows into Bitwise's Solana product have reached about $1.23 billion, moving steadily toward a $1.5 billion milestone that would require roughly $270 million more — an amount the desk estimates could take one to two months at the current pace. Notably, investors had already contributed $12.70 million in net inflows during the first sessions of the new week, positioning the asset for a potential price recovery. As we covered when BSOL led Solana ETFs to a $188M week, the accumulation is less a single-day story than a sustained institutional build. For readers new to the asset, a primer on Solana (SOL) fundamentals breaks down the network behind these products.

on-chain flow datahttps://x.com/whaleinsider/status/2104824629936136373?s=46

SOL Funds Triple XRP's Daily Inflows

The demand gap between Solana and XRP investment products has widened sharply. On September 28, U.S. daily net inflows into Solana funds totaled $12.70 million against just $3.96 million for XRP products — a gap of more than 3.2x. The lead is not a one-day anomaly: over the trailing 30 days, Solana ETFs collected $278.20 million while XRP funds took in $127.05 million. Cumulative net inflows now stand at $1.62 billion for Solana versus $1.80 billion for XRP, meaning XRP's historical lead is eroding fast. The balance sheet tells the same story — Solana funds hold $1.93 billion in net assets, overtaking XRP's $1.68 billion, and nine Solana ETFs now trade against only five XRP products. Even though XRP's market capitalization of $95.47 billion dwarfs SOL's $70.69 billion, Solana products represent 2.72% of their underlying token's cap versus 1.76% for XRP. Daily value traded also favors SOL at $90.43 million against $39.37 million, a rotation visible on the SOL/USDT chart. Compared with Bitcoin's $107.82 billion and Ethereum's $17.69 billion in ETF assets, Solana's footprint remains modest — but the trajectory is what matters.

Price Cools After $125 Weekend High

The token itself pulled back in the latest session, trading near $116.95 on September 29 — a decline of about 1.6% intraday and a slip beneath the levels close to $125 seen over the weekend, marking a second consecutive down session. The September recovery had been powerful, carrying SOL from below $100 to above $120 in under two weeks, though buyers failed to hold the $120 zone on a durable basis. That puts the 110–118 range back in focus, with $110 flagged as the next significant support if selling accelerates. The broader structure still reads stronger than the period when participants debated whether the asset could slide toward $85 before any recovery — the depths of the recent bear market narrative. A durable reclaim of $120 would strengthen the technical setup and re-open the path toward the recent $125 top. On fundamentals, the picture is constructive: stablecoin balances on the Solana network hit a record $17 billion, tokenized assets keep expanding — as seen in $491M tokenized stocks hosted on Solana — and last week's $188 million in ETF inflows, with Bitwise capturing $128 million of it, pushed BSOL past $1 billion in assets under management. Those weighing an entry can consult our How to Buy Solana guide. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

$128.24 Marks the Decisive Level

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the market from a live spot of $121.15 (+0.80%), placing SOL just below the $121.76 first resistance scored 50/100 (R1, Stochastic OB, Keltner Upper). The key barrier sits at $128.24, rated 77/100 on the confluence of BB Upper, Donchian Upper and R2; a confirmed break opens $141.52. On the downside, $118.01 carries a 72/100 score (Fibo 0.114, Ichimoku Tenkan), with the stronger structural floor at $112.86 (67/100, HVN and SMA 20) — losing it would invalidate the bullish thesis. RSI at 65.39, a bullish MACD and an uptrend label align with derivatives positioning: funding at +0.0020%, open interest of $2.545 billion and a long/short ratio of 1.84 favor continuation, though the Fear & Greed reading of 73 (Greed) urges discipline on entries.