Solana Surges as Institutional Demand Hits 11 Consecutive Days

Solana's (SOL) price has seen a surge in institutional demand, with US-listed spot ETFs recording net inflows for 11 consecutive days. On September 1, these funds added $10.9 million to their combined assets of $1.39 billion.

During this period, total net inflows across all products reached $1.35 billion, indicating steady institutional demand even during price weakness. Bitwise led daily demand with $6.17 million in inflows, followed by Fidelity at $2.67 million and Morgan Stanley at $1.36 million.

Solana's derivatives volume rose 22% to $9.43 billion, showing increased trader participation. However, open interest fell 1.40% to $6.47 billion, suggesting some leveraged positions were being closed.