Solana Tumbled 8% on Thursday, extending this week’s slide despite the long-awaited debut of the first US-based Solana ETF
The fall below $180 erased all the year’s gains for the token and also left it with 4% for 2025. Making those numbers even worse for the Sol Bulls, both BTC and ETH—despite their own recent price weakness—continue to sport year-to-year gains of more than 40%.
The bitwise Solana Staking ETF (BSOL), which launched on Tuesday, pulled in $116 million in net inflows in the first two sessions, adding to $223 million in seed investment, per Data by investors. Grayscale Solana Trust (GSOL), which converted from a closed-end fund to an ETF on Wednesday, attracted a modest $1.4 million inflow.
Bitwise’s decent capital inflows weren’t enough to buoy Sol, which posted a 12% decline from Monday’s highs.
The most likely weighted feelings are a Big onchain The move noted by blockchain sleuth lookonchain. The blockchain data showed that Jump Crypto – one of the well-known crypto trading companies – appeared to transfer 1.1 million SOL (worth $ 205 million) to Galaxy Digital, which received approximately 2,455 BTC ($ 265 million) at the same time, indicating that the jump may revolve around SOL in BTC.
