Whales Dominate Solana Futures as Spot Volumes Remain Low

Solana's (SOL) futures market is seeing significant activity from whales, even as spot volumes remain relatively low. According to CryptoQuant data, oversized whale orders have driven Solana Futures activity since February.

The funds pulled in $35.17 million last week, with Goldman Sachs disclosing a $108 million position as the second-largest institutional SOL ETF holding, behind Bitwise's BSOL which has roughly $620 million, or about 62% of the SOL ETF market.

JPMorgan has projected $6 billion in total SOL ETF inflows over time, leaving roughly $4.55 billion still on the sidelines based on cumulative flows of $1.45 billion since launch.