Can Solana break $120? Examining the battle between SOL ETF inflows and profit-taking

Finally, Solana [SOL] turned $110 into a strong launch pad and bounced to $119. 

As of this writing, Solana was trading around $116, up 4% on the daily charts. This is a level that the altcoin has not breached since January 2026.

Besides improved economics across the market, Solana’s upside momentum strengthened significantly, mostly driven by institutional demand.

Institutions throw their weight behind Solana

After the crypto market got another foothold to the upside, institutions’ appetite returned. AMBCrypto had earlier reported that the BSOL ETF started the institutional scramble for SOL, recording over $47 million in inflows on the 18th of September.

With BSOL taking the first leap of faith, others have since followed suit. As a result, most of SOL Spot ETFs recorded net inflows, with only three of the nine funds showing no movement.

As such, the altcoin’s Spot ETFs recorded $26 million in daily total net inflows, pushing assets to $1.74 billion. Over the past two sessions, the altcoin saw over $73 million in net inflows, reflecting a shift in sentiment among institutional investors.

Previously, when inflows reached these levels, SOL rose from $82 to $109, pointing to a direct correlation between strong price jumps and institutional demand.