Solana-linked ETFs saw one of their largest daily outflows on record, recording almost $12 million in outflows. According to data from Santiment’s ETF dashboard, Solana ETFs saw $11.9 million in net outflows in a single session. This marks the second-largest daily outflow since these products began tracking flows. The move comes as SOL trades near multi-month lows around $85, following a failed recovery attempt earlier in January.
SOL’s price action has closely tracked the deterioration in ETF flows. After rebounding toward the $140–150 range in January, the rally stalled below prior resistance and quickly reversed. Since then, SOL has resumed a pattern of lower highs and lower lows, with selling pressure intensifying into early February. RSI has fallen below 30, placing SOL in oversold territory, though without any clear bullish divergence or base formation.
Trading volumes have risen during recent declines, but the absence of sustained follow-through buying suggests limited evidence of absorption at current levels. While large ETF outflows are sometimes cited as potential exhaustion markers, current data shows flows and price weakening in tandem, rather than diverging. The lack of stabilization in either metric points to continued pressure rather than a completed capitulation phase. With SOL now testing levels last seen during earlier phases of the downtrend, ETF flows appear to be acting as a confirmation signal, reflecting institutional risk reduction amid broader market volatility.
Solana ETF outflows are reinforcing the existing downtrend rather than signaling a confirmed bottom. Price weakness and declining assets under management suggest continued institutional de-risking.
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