Solana ETFs See Record Inflows, Futures Interest as SOL Targets $120

Spot Solana ETFs recorded their most substantial weekly performance since February, attracting $39.23 million in net flows as SOL’s price rallied 15% to $97, according to data. Consequently, this surge coincided with a sharp $1.5 billion rise in Solana futures open interest throughout May, signaling heightened trader activity in derivatives markets.

Bitwise‘s BSOL ETF led the wave with $36 million in weekly inflows, while Fidelity‘s FSOL added over $1.8 million. Since launch, BSOL has attracted $861 million, accounting for nearly 81% of all spot SOL ETF inflows, which now total about $1.06 billion. Meanwhile, aggregate open interest climbed to $6.4 billion from $4.94 billion on May 1.

The funding rate held near 0.065%, indicating traders paid to maintain long exposure. However, buying pressure has cooled in the $95-$96 range over the past 24 hours as volume deltas flattened. Technically, SOL is forming an Adam and Eve pattern with a neckline at the $95 resistance zone.

A confirmed move above $95 could target the $120 level, a view supported by analyst BATMAN who noted Solana broke a 231-day downtrend against Bitcoin. The $89-$91 zone now acts as the nearest support cluster for a potential retest.

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