SOL eyes $164 breakout as Solana ETFs see $350M inflows

Solana's price outlook has turned relatively optimistic as Solana ETFs continue to attract institutional interest.

Over the last 11 days, the Solana exchange-traded funds have recorded consistent inflows, signalling sustained confidence from investors even amid a challenging broader market, hinting at a possible $164 breakout.

SOL ETFs draw steady institutional demand

Since their launch in late October, Solana ETFs have amassed over $350 million in cumulative inflows, with total assets under management reaching $568 million, representing roughly 0.6% of Solana’s circulating supply.

The inflows are split between Grayscale’s GSOL, which attracted $5.9 million on November 11, and Bitwise’s BSOL, which added $2 million on the same day.

The steady accumulation demonstrates institutional recognition of Solana’s staking potential and its growing role within diversified crypto portfolios.

The Bitwise Solana Staking ETF (BSOL) has become particularly appealing, offering a 7.3% annual yield through staking, combining price exposure with income generation.

This has made it attractive to Wall Street investors seeking higher-yield alternatives to Ethereum and Bitcoin ETFs, which have seen mixed inflows recently.

Grayscale’s GSOL, while not offering staking, has nonetheless drawn steady demand, indicating that the market values exposure to SOL even without yield.

These technical levels shape Solana's price outlook

After a period of bearish pressure, the Solana price is approaching a critical juncture.

Solana (SOL) has faced pressure from broader market dynamics, including a general risk-off environment and increased Bitcoin dominance, which have weighed on altcoins.

A recent technical breakdown, including a Death Cross on daily moving averages and a subdued RSI, underscored the challenges ahead.

Nevertheless, steady inflows into Solana ETFs and high staking yields are mitigating some of these bearish pressures, offering a foundation for potential recovery if buyers maintain support around $150.

Technical charts reveal that SOL has struggled to break above the $164 mark, which now represents a potential pivot point for the next leg higher.

Analysts highlight that surpassing this level could unlock a short-term rally toward $185, corresponding to the 200-day exponential moving average, which has long acted as resistance.

Market sentiment and future prospects

Despite underperforming against other top cryptocurrencies year-to-date, with a 16–21% loss, Solana’s market ecosystem shows signs of resilience.

Daily active addresses have been gradually declining, reflecting fading retail hype, yet institutional demand remains robust.

Futures trading volumes have also increased, and long/short ratios indicate that traders continue to position for potential upside, according to data from Coinglass.

Recent regulatory guidance from the US Treasury and IRS has also made staking ETFs more feasible, encouraging additional issuers to enter the market and providing further support for Solana (SOL).

Sustained institutional interest, coupled with the unique benefits offered by staking ETFs, may provide the momentum needed for SOL to regain lost ground.

If this convergence of factors plays out as anticipated, Solana could not only reclaim local highs but also reinforce confidence in its long-term viability within the crypto landscape.