Solana was rejected at the $90 resistance level, despite inflows into the SOL ETF peaking at $1.5 billion. These fund inflows are not just from retailers but also from serious institutions.
As SOL is trading inside a bearish rising wedge, the prices could fall further, though there might be instances where the coin reaches above $90.
SOL ETF inflow peaks at $1.5 billion since launch in July
According to an observation made by senior ETF analyst Eric Balchunas, the inflows into Solana ETFs peaked at $1.5 billion since their launch in July 2025. Over the past 9-10 months, not only did the fund attract inflows, but it also managed to hold on to them despite the turbulent market conditions.
What’s more surprising is that despite Solana losing more than 50% of its value since the launch of the ETFs in July 2025, investors have been holding on rather than pulling out their money from the funds. When scrutinizing who these investors are, it was found that these were institutional investors.
50% of SOL ETF flows from institutional investors
Institutional investors, known as 13F filers, contributed 50% of the assets. These are large institutional investors (hedge funds, asset managers, and banks) that must report their holdings to the U.S. Securities and Exchange Commission through a Form 13F.
The 50% of the ETF assets coming from these institutional investors suggests the investor base is serious and long-term oriented, not just retail traders, who look for scraps.
As mentioned above, SOL prices have not reflected any of these activities. The chart below shows the prices crashing from the January 2026 high of $148 to $87 at the time of writing. The bearish nature had much to do with the macroeconomic factors rather than with Solana itself. The geopolitical tensions outweighed the excitement and hype surrounding the on-chain and ETF improvements.
SOL may touch $90 occasionally but will not sustain
Currently SOL is trading inside a bearish rising wedge, making higher highs and lower lows. Inside this setting, although buyers keep pushing the prices higher, their strength keeps waning as the wedge narrows.
There will be occasions when the SOL price will cross above $90 as buyers push the prices higher. However, it will be just a spontaneous spike that will last for a short time before crashing again.
As the apex of the rising wedge forms, there will come a threshold point where there will be more sellers than buyers, and at that point, SOL will break out and crash even further.
