SOL Funds See Another Outflow on Mondayď˝New Hong Kong ETF Lists Todayď˝Wait for Price Confirmation, Donât Chase the Hype
My stance is to watch cautiously. For now, Iâm not treating the âETF listingâ as evidence that SOL has attracted new buying. Discussion on Binance Square around
#SolanaETFsEnd14WeekInflowStreak is still growing, but Iâm checking the daily fund flows that can be verified item by item, rather than simply repeating the â14 consecutive weeksâ headline, which has not yet been independently recalculated. Farsideâs latest table shows that on October 12, VSOL, one of seven U.S. SOL fund products, saw net outflows of about $700,000, while the others were listed as 0.0, for a combined outflow of roughly $700,000. Each of the five trading days last week, from October 5 to 9, also posted a daily net outflow. This means Mondayâs daily flows have yet to turn positive, although the roughly $700,000 outflow was clearly smaller than on several days last week. Smaller outflows do not mean a return of inflows, much less that the price has necessarily bottomed.
Another event unfolding now is that the Hong Kong Stock Exchange calendar lists the Pando Solana ETF (2831) for listing today. The issuerâs materials also state that October 13 is the listing date, that it trades in Hong Kong dollars, that its net asset value is denominated in U.S. dollars, and that its management fee is 0.60% per year. As I write, I wonât conflate the listing arrangements with trades having already taken place, nor will I count the future assets of a Hong Kong-listed ETF as same-day net subscriptions to U.S. funds. For SOL, an additional regulated access point could broaden the pool of potential buyers, but actual transmission requires trading to begin, fund subscriptions and redemptions, purchases of the underlying coin, and secondary-market demand. Products in different regions cannot simply be added together.
The market has already offered a more direct test: Krakenâs SOL/USD was around $105.06 as I wrote, with a range today of roughly $101.58 to $113.27. It has rebounded from the low but has yet to reclaim the intraday high. In the short term, Iâm watching whether the price continues to hold around $101.50 and can regain a foothold around $108; around $113.30 is a more obvious area of overhead supply. If it breaks below $101.50 and the rebound is weak, the tentative view that âoutflows are easing and the price is stabilizing firstâ is invalidated. If funds subsequently post consecutive net inflows and the price also moves back above $113.30, then there would be grounds to increase my conviction. Neither a single-day $700,000 figure nor one rebound candlestick is enough.
If I were trading myself, I wouldnât chase the price here. Iâd only consider a small spot long, with no high leverage. Iâd use no more than 2% of my total capital to test the trade only if a 4-hour candle closes above $108, the price then retests around $108 and holds, and itâs confirmed that subsequent U.S. fund data has not shown larger outflows. My first target would be $113.30; Iâd take half off there and set a target of $118 for the rest. Iâd place the initial stop below $101.50. If, after entry, a 4-hour candle closes back below $108 and the rebound attempt fails, Iâd exit even if the hard stop hasnât been hit. If the price breaks straight below $101.50, the plan is void and Iâll stay out until the next confirmation. If the entry conditions arenât met, Iâll honestly record that no trade was executed, rather than retrospectively presenting observation as profit. Discipline matters more than catching a trending topic.
#SolanaETFsEnd14WeekInflowStreak #SOL
The above is solely my personal market observation and does not constitute investment advice.