Solana ETF Inflows Drop 97% as CME Short Exposure Shrinks
Institutional buying for Solana cooled off dramatically in early September, though derivative funds softened their bearish bets.
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Key takeaways
- Solana ETF weekly inflows plummeted 97% in the week ending Sept. 4.
- Despite the drop, SOL ETFs managed to keep net weekly flows positive.
- CME funds trimmed their net short positions according to a Sept. 1 snapshot.
Wall Street pulled back hard on Solana through the first week of September.
Weekly inflows into SOL exchange-traded funds fell by 97% for the period ending Sept. 4. Even so, the products didn't bleed into negative territory, finishing the week with modest net positive flows.
Bears pull back on futures
Spot buyers stepped back, but derivative traders eased up too. A separate snapshot from Sept. 1 showed that funds on the Chicago Mercantile Exchange (CME) scaled back their net short exposure to Solana.
Institutional players weren't eager to short SOL heavily, even as fresh spot buying dried up to a trickle.
Why it matters
For anyone holding or trading SOL, the market's stuck in limbo. A 97% drop in ETF inflows shows traditional money isn't powering a rally right now. But declining short bets on the CME mean bears aren't looking to push prices down either. That leaves Solana waiting for a clear catalyst to set its next direction.
Source: CryptoSlate
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Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
