Written by Biraajmaan Tamuly, Staff Writer. Reviewed by Ray Salmond, Staff Editor.
Written by Biraajmaan Tamuly, Staff Writer.
Reviewed by Ray Salmond, Staff Editor.
Solana ETF inflows rise as traders eye SOL rally to $120
MarketsPublishedMay 11, 2026
Solana ETFs recorded their strongest weekly inflows since February as SOL futures open interest climbed nearly 30%, with traders watching for a possible move to $120.
The spot Solana (SOL) exchange-traded funds (ETFs) recorded their strongest weekly performance since February, attracting $39.23 million in total net flows. The surge in capital inflows coincided with SOL futures open interest rising by $1.5 billion in May, signaling a sharp rise in trader positioning across the derivatives markets.
The rise in market activity comes alongside Solana’s 15% rally to $97 in the past seven days, with traders targeting the next major resistance level at $120.
SOL ETF demand rises with futures interest
Bitwise’s BSOL ETF led the latest inflow wave with $36 million in weekly net inflows last week, while Fidelity’s FSOL added over $1.8 million. Since its launch, BSOL has attracted $861 million, accounting for nearly 81% of cumulative inflows across all spot SOL ETFs, which now total about $1.06 billion.
Spot SOL ETF netflows. Source: SoSoValue
Futures activity rose alongside the ETF demand. Solana open interest (OI) climbed to $6.4 billion from $4.94 billion on May 1, marking a 29.5% rise in less than two weeks.
Aggregated spot cumulative volume delta (CVD), which measures the net difference between market buy and sell orders, climbed to nearly $250 million from $163 million in five days, during SOL’s push toward $96.
The futures CVD expanded to about $593.6 million after rising steadily from May 5 onward, as buyers absorbed sell-side liquidity in both the spot and futures markets.
SOL price, aggregated open interest, spot, and futures CVD and funding rate. Source: velo.chart
The funding rate held near 0.065%, indicating traders continued to pay to maintain long exposure. The buying activity has started to flatten near the $95-$96 range as spot and volume deltas have cooled over the past 24-hours.
Related: South Korea crypto holdings halve in a year as investors turn to stock market
Solana eyes a breakout: Is $120 next?
Solana is forming an Adam and Eve pattern near the $95 resistance level, with the setup’s neckline directly at the current breakout zone. A verified move above that level places the technical target near $120.
An Adam and Eve pattern on the higher time frame chart could signal a bottom for SOL if price successfully turns the $95 resistance level into support.
SOL/USDT, one-day chart. Source: Cointelegraph/TradingView
SOL also pushed above its 100-day exponential moving average for the first time since October 2025, adding another technical shift to the mix alongside ETF inflows and rising futures positioning.
A verified daily close and consolidation above $95 could open the path toward the pattern’s projected target near $120, due to a lack of resistance sitting between the two levels after the 42% dip in February.
Crypto analyst BATMAN pointed out that Solana recently broke above a 231-day downtrend on the SOL/BTC daily chart, signaling improving relative strength against Bitcoin. as reported by the analyst, the $89-$91 zone now acts as the nearest support cluster and a likely retest region if SOL holds above the breakout area.
SOL/USDT, one-day chart analysis by BATMAN. Source: X
Related: XRP metrics line up bull signals for ‘full-scale rally’ to $2
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
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