Spot Solana (SOL) exchange-traded funds recorded their strongest weekly inflow since February, attracting $39.23 million in total net flows during the week ending May 10, 2026. The capital influx coincided with a sharp rise in SOL futures open interest, which climbed by $1.5 billion in May, signaling increased trader positioning across derivatives markets.
ETF demand accelerates as institutional interest grows
Bitwise’s BSOL ETF led the inflow wave with $36 million in weekly net inflows, while Fidelity’s FSOL added over $1.8 million. Since its launch, BSOL has accumulated $861 million, representing approximately 81% of cumulative inflows across all spot SOL ETFs, which now total roughly $1.06 billion. The sustained demand suggests institutional investors are gradually increasing exposure to Solana through regulated investment vehicles.
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Solana open interest rose to $6.4 billion from $4.94 billion on May 1, marking a 29.5% increase in less than two weeks. Aggregated spot cumulative volume delta, which measures the net difference between market buy and sell orders, climbed to nearly $250 million from $163 million over five days as SOL pushed toward $96. Futures cumulative volume delta expanded to approximately $593.6 million after rising steadily from May 5 onward, indicating buyers absorbed sell-side liquidity in both spot and futures markets.
Technical setup points toward $120 target
Solana is forming an Adam and Eve pattern near the $95 resistance level, with the pattern’s neckline directly at the current breakout zone. A confirmed move above that level places the technical target near $120. The pattern on the higher time frame chart could signal a bottom for SOL if price successfully turns the $95 resistance into support.
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 confirmed daily close and consolidation above $95 could open the path toward the pattern’s projected target near $120, with limited resistance between the two levels after the 42% decline in February.
Broader market context
The rally in Solana comes amid a cautious recovery in the broader cryptocurrency market. Crypto analyst BATMAN noted that Solana recently broke above a 231-day downtrend on the SOL/BTC daily chart, signaling improving relative strength against Bitcoin. According to 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.
The funding rate held near 0.065%, indicating traders continued to pay to maintain long exposure. However, buying activity has started to flatten near the $95-$96 range as spot and volume deltas have cooled over the past 24 hours, suggesting the market may consolidate before attempting another leg higher.
Why this matters for investors
The combination of rising ETF inflows, increasing futures open interest, and improving technical structure suggests that sentiment around Solana is shifting. While the $120 target represents a roughly 24% gain from current levels, traders should note that the funding rate remains elevated, indicating that long positions are still paying a premium. This could lead to increased volatility if the market does not continue its upward trajectory.
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.
FAQs
Q1: What drove the recent Solana ETF inflows?
Spot Solana ETFs recorded $39.23 million in weekly net inflows, led by Bitwise’s BSOL ETF with $36 million. The inflows reflect growing institutional demand for regulated Solana exposure.
Q2: What is the Adam and Eve pattern in Solana’s chart?
The Adam and Eve pattern is a bullish reversal formation appearing near the $95 resistance level. A confirmed breakout above this level targets approximately $120, with limited resistance in between.
Q3: How has Solana’s futures market activity changed?
Solana futures open interest rose 29.5% to $6.4 billion in May, while cumulative volume delta in both spot and futures markets increased, indicating strong buying pressure from traders.
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