Goldman Leads Charge as Solana Spot ETFs Surpass $1 Billion

Solana's spot exchange-traded funds (ETFs) have reached over $1 billion in assets, with Goldman Sachs revealing a significant position of $108 million. The influx of funds is driven by institutional investors, while retail participation remains relatively low.

The Bitwise BSOL fund leads the pack with around 62% market share, followed closely by Goldman's stake as the second-largest institutional holding. Other notable participants include Morgan Stanley and VanEck.

CryptoQuant data indicates that Solana futures activity since February has been dominated by large whale orders, even as spot volumes remain subdued. Analysts are cautioning that a key resistance band of $86.82 to $88.46 needs to be broken for the price to recover.