Solana Surges Past $110 on Record ETF Inflows and Institutional Demand

Solana's price has surged past $110 as institutional demand continues to drive the token's value. Over the past week, Solana has gained approximately 19.8%, reaching its highest level since January 31.

The Bitwise Solana Staking ETF ($BSOL) posted a record single-day trading volume of over $126 million, surpassing Monday's previous high. This comes as part of a larger trend, with US spot Solana ETFs experiencing seven consecutive days of inflows, totaling $500 million across the past seven sessions.

The cumulative net ETF inflows for Solana now stand at approximately $1.26 billion, accounting for about 2.2% of its market capitalization. This influx of institutional investment has helped erase much of this year's earlier decline, with Solana currently up roughly 80% from its June low.

Solana treasury company DeFi Dev Corp resumed SOL purchases, acquiring 19,000 SOL for $1.86 million at an average price of $98.14. The company's treasury now holds 2.33 million SOL, valued at approximately $182 million.