Solana (SOL) traded around $101.59 on Monday, holding just above the psychological $100 level after shedding roughly 3% in the previous session. The token’s short-term technical picture has cooled: the daily Relative Strength Index has eased to 67 from overbought territory and the MACD is edging toward its signal line, even as SOL-focused exchange traded funds booked a ninth consecutive day of net inflows. Canadian-listed Solana ETFs tracked that demand. The four largest funds in the category by assets, covered in detail here, added C$611,996 in weekly net inflows between them, and the broader nine-fund Solana category closed the week at C$247.4 million in combined assets under management, up from roughly C$215.3 million a week earlier. Weekly performance for the group came in at 14.61%, narrowing the year-to-date shortfall to -14.89% from -25.72% a week prior, even as the category’s year-to-date net flows remain negative.

A Nine-Day Inflow Streak Meets a Governance Overhaul

Two developments have defined Solana’s week: sustained institutional buying through ETF products, and a structural change to the network’s monetary policy. US spot Solana ETFs recorded $153.87 million in net inflows last week, extending a streak that has now reached nine consecutive days of net buying. A single session on 27 August brought in $60.91 million, reportedly the strongest daily result of the year to date, and August inflows had already surpassed $134 million before the month closed. Typically, sustained ETF inflows signal confidence in long-term growth and can draw in further demand from both large-wallet and retail investors as risk appetite improves. That is the constructive read on the streak, and it is echoed in the Canadian data, where the group has now added net inflows in the period under review despite a choppy week for the underlying token.

On the network side, Solana validators voted to double the disinflation rate to 30% and to establish a new governance framework, a move intended to better structure the pace at which new SOL issuance slows over time. A separate proposal to introduce usage-based fees, which could have pushed daily SOL burns to almost 9,000 tokens, failed to pass. The result leaves the disinflation measure in place without the accompanying fee mechanism, a governance outcome that market analysts have characterised as favouring gradual supply discipline over a more aggressive burn-based approach.

That institutional and governance backdrop sits alongside a technical structure that remains constructive but is showing signs of fatigue. SOL holds above its 50-day exponential moving average at $85.05, its 100-day EMA at $82.77 and its 200-day EMA at $89.71, all of which sit below the current market. Immediate downside support is the 1 February low of $98.02; a break below that level would shift attention to the 200-day and 50-day EMAs in turn. On the upside, the 18 December low of $116.88 stands as the next significant structural barrier. Analysts note that a sustained move through that level would clear the named barrier, while the cooling RSI and MACD keep the question of whether buying pressure can strengthen again squarely in focus.

A Rally Still Underwater on the Year

Zooming out, the Canadian Solana category remains the weakest performer on a year-to-date basis among the crypto ETF groups tracked in this series. A week ago, Solana products were the only category in the broader Canadian crypto complex carrying a year-to-date net outflow, at roughly -C$28.4 million, even as bitcoin, ether and XRP funds all posted positive year-to-date flows. That pattern has persisted: year-to-date net flows for the Solana group stand at -C$27.77 million this week, only marginally improved, even as the week’s price rally has pulled the year-to-date performance figure up by more than ten percentage points.

Access to Canadian-listed Solana exposure dates back to April 2025, when four issuers, CI Global Asset Management, Purpose Investments, 3iQ Corp. and Evolve Funds Group, launched spot Solana ETFs with staking capabilities, giving investors a regulated route to both price exposure and network staking yield without directly custodying the token. The staking design differentiates the Canadian product set from simple spot-tracking structures, since a portion of the return investors see can come from validator rewards rather than price appreciation alone. Sixteen months on, that same group of four issuers still makes up the four largest Solana funds tracked in this series by assets. That structural feature is part of the backdrop for this week’s fund-level detail below.

Canadian Solana ETF Performance

Group Data

Fund-by-fund detail

The 3iQ Solana Staking ETF remains by far the largest fund in the group by assets, at C$167.5 million, more than five times the next-largest fund. It also posted the largest single inflow on the week at C$276,413, though it carries the second-largest year-to-date outflow of the four funds at -C$13.6 million. The Evolve Solana ETF stands out as the only fund in the group with positive year-to-date flows, at C$569,258, despite being the smallest by assets. The currency-hedging split is worth noting too: the Purpose Solana ETF, offered here in its CAD-hedged units, posted the weakest weekly return of the group at 13.59% and was the only fund to see a net outflow on the week, shedding C$626,108 even as its price return remained solidly positive, a reminder that positive performance does not guarantee positive flows in the same period.

What to Watch This Week

Attention now turns to whether SOL can hold the $98.02 support level and extend the ETF inflow streak past nine days, which would keep the $116.88 resistance level in view for a possible extension of the rally. A break below $98.02 would instead point traders toward the 200-day and 50-day EMAs as the next areas of support, and would raise the question of whether ETF demand can continue to offset broader selling pressure. On the Canadian side, the next weekly flow print will show whether last week’s positive inflows into three of the four funds continue, or whether the Purpose fund’s outflow proves to be the start of a broader pattern. Governance implementation details following the disinflation vote are also worth tracking, given the framework was only newly established.

This article was written on August 31st, 2026. Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision