Solana (SOL) ETF Inflows Drop 96% to $6.2M in Weekly Reversal

Solana ETF Demand Cools Sharply

Solana (SOL) exchange-traded funds hit an abrupt demand reversal last week, with net inflows collapsing to $6.2 million for the five trading days ended September 4, fund-flow data shows. That marks a drop of roughly 96% from the $153.9 million Solana products absorbed the week before — a stretch in which SOL fund inflows had surged 443%. Notably, no tracked product recorded net outflows, a pattern that points to paused buying rather than outright investor exits. Total assets in SOL funds still slipped to $1.41 billion from $1.43 billion across the same window. Spot ETFs hold the underlying token directly, and for readers newer to the asset, our beginner's guide to Solana explains how the network and its native coin work. The slowdown contrasted sharply with US spot Bitcoin ETFs, which drew $986.9 million over the week and pushed weekly gains across Bitcoin funds to 6.7%, while Ethereum, XRP and Hyperliquid products saw flows fall between 73% and 96%. Trading activity thinned across the board, with Bitcoin fund volume sliding to $14.5 billion from about $19 billion and Ethereum fund volume settling near $4.1 billion. Prices stayed range-bound throughout: SOL added just 0.18% over the five sessions, trailing every asset in the group. Bitcoin, meanwhile, opened Friday at its highest level since May 12 after Federal Reserve Governor Christopher Waller's remarks on incoming inflation. The week then closed with August payrolls at 162,000 versus expectations near 53,000, lifting bets on a Federal Reserve rate move this month. The August CPI print due September 11 will test whether that appetite holds — and whether Solana ecosystem funds can claw back demand.

Transaction V1 Lands September 9

Flows aside, the network itself takes center stage this week. Solana's Transaction V1 upgrade is scheduled for mainnet activation on September 9, a protocol-level change that expands the per-transaction payload to 4,096 bytes. As our earlier coverage of the 4,096-byte transaction capacity detailed, the change carries compatibility risks for some applications and indexers that must parse the larger payloads, so the rollout is being watched as much for operational smoothness as for throughput gains. Validators, who secure the network by staking SOL, form the operational backbone of the activation, and because the upgrade alters capacity rather than token supply, its effects should surface in network performance and fees before any market pricing. The upgrade lands amid a packed macro calendar: US equity markets were closed Monday for Labor Day, the European Central Bank and the Turkish central bank issue rate decisions on September 10 — the ECB's main refinancing rate is expected to rise to 2.65% from 2.40% — alongside US producer-price data, before the US CPI report arrives on September 11. Token supply adds its own layer of pressure, with unlocks of 14.36 million APT and 9.17 billion PUMP tokens set for September 12, a reminder of overhang risk across the broader altcoin market. On the ecosystem side, Upbit ends trading support for BONK, one of the most heavily traded Solana-native meme tokens, on September 7, per the exchange's official announcement. Investors weighing an entry ahead of the upgrade can consult our guide on how to buy Solana. Readers tracking the market in real time can follow live spot and futures prices on Gate.

$103.05 Floor, $107.60 Ceiling

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $107.60 resistance at 85/100, driven by the confluence of Fibo 0.000, Donchian Upper, Swing High and Keltner Upper sources, while the $103.05 support scores 87/100 on ATR Lower, Flip R→S, BB Middle and SMA 20 readings. Spot trades at $105.73, down 0.25% over 24 hours, with RSI at 65.35 and a bearish MACD signal inside a broader uptrend. Derivatives positioning is skewed: funding sits at -0.0015% even as 70.2% of accounts run long (long/short ratio 2.36) against $2.15 billion in open interest — crowded longs with unusually cheap short exposure. With the Fear & Greed Index at 71 (Greed), a close above $107.60 opens the path toward $111.52; losing $103.05 would invalidate the bullish structure and expose $98.82, where traders can stage order types around the Swing Low and Fibo 0.236 confluence.