Solana ETFs Post Their Worst Day Since December While SOL Holds Above $100

Spot Solana ETFs reached the U.S. market in 2025, following the path cleared by spot Bitcoin and Ether funds in 2024, giving institutions a regulated wrapper for SOL exposure without self-custody. Daily creation and redemption data from trackers like SoSoValue became the standard gauge of institutional appetite. The December 3, 2025 outflow now serves as the prior benchmark that October 27's withdrawal surpassed, framing this as the sharpest pullback since the funds' early months.

Authorized participants redeeming shares on October 26 and 27 forced issuers to sell underlying SOL, adding selling pressure as the token drifted from $101.87 toward sub-$100 levels. Holders of the ETFs face a fund that is shrinking in assets, while traders on spot and derivatives markets watch the $98 support zone and $105 resistance to gauge whether the retreat stabilizes. Issuers collecting management fees see their revenue base erode with each withdrawal.

Two-day outflows of $27.38 million are modest against total fund assets, yet they puncture the narrative that ETF wrappers guarantee steady institutional demand for altcoins beyond Bitcoin and Ether. Whether this reflects genuine waning conviction in Solana or routine portfolio rebalancing around a psychological $100 price level is genuinely unsettled, and conflating ETF flows with on-chain network health remains a common but unreliable shortcut for gauging crypto's real adoption.

SoSoValue's next daily flow prints will show whether withdrawals extend past the two-session, $24.82 million total or reverse into net creations. A close that holds $98 support would suggest the selloff is exhausting itself, while a break below invites further redemptions; a push back above $105 resistance would signal the outflow streak is stalling rather than accelerating.