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Solana (SOL) Price News: Declines Despite Spot ETF Launch

Solana (SOL) experienced an 8% decline, erasing all year-over-year gains, even after the launch of the first spot-based Solana ETFs in the U.S. The Bitwise Solana Staking ETF (BSOL) recorded $116 million in net inflows, while the Grayscale Solana Trust (GSOL) attracted just $1.4 million. A substantial on-chain transfer of 1.1 million SOL to Galaxy Digital by Jump Crypto raised concerns, as it suggested a possible shift of capital from SOL to Bitcoin (BTC). This downward trend continues for SOL, which is now down 4% for 2025, contrasting starkly with BTC and ETH, both showing over 40% year-over-year gains. Despite the ETF launch and significant capital inflows, the SOL price fell from highs earlier in the week, indicating broader market trends may be affecting investor sentiment. SOL's price now stands below $180, highlighting a challenging period for its holders as market dynamics shift.

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