TL;DR
- Rothschild Investment and PNC Financial disclosed holdings in Solana ETFs, joining a growing list of traditional players.
- Solana ETFs, like Bitwise’s (BSOL), attracted over $126 million in one week, while BTC and ETH funds lost $2.6 billion.
- SOL price rose 5% to $169, recovering from the key $150 support level with a 50% increase in trading volume.
Solana’s (SOL) price rebound is gaining strength, supported by a growing wave of institutional interest that is defying the bearish market trend. While Bitcoin and Ethereum funds face heavy redemptions, Solana products continue to attract capital, signaling a notable rotation in demand.
In recent filings with the U.S. Securities and Exchange Commission (SEC), several traditional investment firms disclosed new positions. Rothschild Investment LLC, which manages $1.5 billion, reported ownership of 6,000 shares of the Volatility Shares Solana ETF (SOLZ), valued at $132,000. Likewise, PNC Financial Services, with $569 billion under management, disclosed 1,453 shares of SOLZ.
These firms join other players like Heck Capital Advisors and Belvedere Trading, confirming the trend of institutions buying Solana ETFs as a regulated vehicle to gain exposure to the asset.
Solana ETF Inflows Contradict the Market
The positive sentiment is reinforced by the performance of the exchange-traded funds. The Bitwise ETF (BSOL) recorded inflows of over $126 million in its first full week of trading, marking eight consecutive days of net gains.
This momentum contrasts sharply with the broader market. during the same period, Bitcoin and Ethereum ETFs registered combined outflows of $2.6 billion. In the last two weeks, Solana ETFs (including BSOL and Grayscale’s GSOL) have accumulated $336 million in total inflows.
SOL’s price action has mirrored this optimism. The cryptocurrency climbed nearly 5% in the last 24 hours, trading around $169 and recovering from recent lows near $150. This rebound coincides with a 50% increase in trading volume and a 3% rise in open interest to $7.8 billion.
Analysts like Ali Martinez point out that the $147.49 level is critical support. The fact that institutions are buying Solana ETFs while the price defends key levels suggests that SOL is evolving into an established, investment-grade asset.
