Solana ETFs Pull $39M as Futures Open Interest Jumps

Spot Solana exchange-traded funds recorded $39.23 million in net inflows last week as SOL rose about 15% to roughly $97. The inflows coincided with a rise in futures open interest of about $1.5 billion in May. Traders are watching a technical target near $120.

Bitwise’s BSOL ETF led inflows with $36 million added over the week. Fidelity’s FSOL added about $1.8 million. Since launch, BSOL has gathered about $861 million, representing roughly 81% of the approximately $1.06 billion in cumulative inflows across spot SOL ETFs.

Open interest in Solana futures increased to about $6.4 billion from $4.94 billion on May 1, a roughly 29.5% gain in under two weeks. Aggregated spot cumulative volume delta, which measures the net difference between market buy and sell orders, rose to nearly $250 million from $163 million over five days during SOL’s move toward the mid-$90s. Futures cumulative volume delta expanded to about $593.6 million after gains beginning May 5. The funding rate held near 0.065%, indicating traders were paying to hold long positions.

Buying activity cooled over the past 24 hours as spot and volume deltas flattened around the $95–$96 range. Market data show that buyers absorbed available sell-side liquidity during the early May advance.

Technical indicators point to a potential breakout zone at the $95 level. Charts show an Adam and Eve reversal pattern forming near that area, with the pattern’s neckline at the current resistance. A confirmed daily close and consolidation above $95 would place a technical target near $120, with limited recorded resistance between those levels following a 42% decline in February. SOL also crossed above its 100-day exponential moving average for the first time since October 2025.

An analyst using the name BATMAN identified a break above a 231-day downtrend on the SOL/BTC daily chart, and flagged the $89–$91 area as the nearest support cluster and likely retest zone if SOL holds above the breakout area.

The recent ETF inflows and higher futures positioning occurred during the same period of price gains and increased trading volume. Market participants will monitor whether SOL secures a daily close above $95 and whether futures open interest and funding conditions continue to support long positions.