Solana Tops $100 as Bitwise ETF Hits Record $108M Volume

Solana climbed 6.72% on Tuesday to trade near $100, its highest level in roughly six months, as institutional demand accelerated. Bitwise President Teddy Fusaro confirmed that the firm’s SOL staking ETF, BSOL, pulled in $108 million in trading volume on August 24, the highest single-day volume any Solana ETF has recorded. The move comes as SOL builds on a rally that began August 19.

Bitwise ETF Sets Records as Institutional Flows Accelerate

Fusaro’s figures, later corroborated by data from SolanaFloor, mark a new all-time high for BSOL’s daily trading volume. Bitwise CEO Hunter Horsley noted that the fund has continued performing even after Solana’s price fell roughly 70% earlier this cycle, a sign institutional holders stayed positioned through the drawdown rather than exiting.

SoSoValue data shows BSOL took in $24.99 million in net inflows on August 24, its strongest daily haul in about six months. Across all nine U.S.-listed spot Solana ETFs, total inflows reached $33.49 million that day, the highest combined single-day figure since December 2025. BSOL alone accounts for roughly 80% of the $1.2 billion that has flowed into the category, having approached $948 million in cumulative net inflows less than ten months after its October 2025 launch, according to Farside Investors data. Total net assets across Solana ETFs have grown to $1.21 billion, up 68% from $717 million in June.

SOL Breaks $100 Resistance on 32% Weekly Gain

Solana has gained 32% since August 19, a move that has produced a bull flag pattern on the one-hour chart. The flag carries a height of roughly 10%, which technically points toward $113 if SOL closes above the pattern’s resistance near $102. The setup remains fragile, though: SOL is currently testing the flag’s support near $99, and a close below that level would invalidate the bullish structure.

Momentum indicators still favor buyers. The RSI reads 55, and the Money Flow Index sits at 71, both suggesting buying pressure remains intact without yet reaching extreme overbought territory.

Derivatives data reinforces the bullish tilt:

• Open interest has climbed to a three-month high near $6.3 billion, according to Coinglass
• Long/short ratios on Binance and OKX stand at 1.75 and 1.53, respectively, showing a clear tilt toward long positioning
• Whale activity on Hyperliquid added $36 million in new SOL long positions on August 25 alone

Weekly decentralized exchange volume on Solana reached $18.62 billion, per DeFiLlama, the highest level since June and a sign that on-chain usage is expanding alongside the price move.

Conclusion

Solana’s push through $100 is backed by more than price momentum alone: record ETF volumes, rising open interest and expanding DEX activity all point to broadening participation. The immediate test is whether SOL can close above $102 to confirm the bull flag target near $113, or whether a slip below $99 sends the rally back into consolidation.