Solana (SOL) Price: ETF Inflows and RWA Growth Fail to Stop the Slide Below $70

TLDR

• SOL fell below $70 on Friday, dropping over 6% from its June 15 high of $75.60
• Morgan Stanley filed an amended S-1 with the SEC for a SOL-focused ETF (MSOL)
• SOL ETFs saw $7.11 million in weekly inflows despite the price decline
• Solana is now the largest chain for tokenized Real-World Assets (RWAs) by holder count, with 285,000+ holders
• Key support sits at $70; a break lower could expose June lows near $62

Solana dropped from a recent peak of $75.60 to an intraday low of $70.70 on June 18, before stabilizing near $71. The decline followed a 20%-plus rally from early June lows around $62.

The sell-off accelerated after the Federal Reserve held interest rates steady at 3.50%–3.75%, while warning that inflation risks remain elevated. Policymakers projected the possibility of more tightening in 2026, pushing traders away from high-beta assets like SOL.

Bitcoin also pulled back toward $64,000 after the Fed announcement. Several large-cap altcoins posted steeper losses than Bitcoin in the same period.

Crypto analyst Ash Crypto pointed out that SOL on the monthly chart is the most oversold it has ever been. He also highlighted that Solana set a new single-day record for tokenized stock trading in crypto, with over $140 million traded in spot — 97% of it on Solana, beating every other chain combined.

Despite the price drop, institutional interest in Solana has continued to grow. SOL-focused ETFs pulled in $2.99 million on Thursday alone, bringing weekly inflows to $7.11 million.

ETF Filing and Institutional Moves

Morgan Stanley filed an amended S-1 form with the SEC on Thursday for its Solana-focused ETF, ticker MSOL. The filing adds to a string of institutional moves around SOL in recent weeks.

Eight consecutive months of net inflows into SOL ETF products shows sustained institutional demand. A continued flow of inflows next week could shift the monthly total from a slight negative to positive.

RWA Adoption on Solana

On the retail side, Solana has become the largest blockchain by RWA holder count. Over 285,000 holders now hold tokenized Real-World Assets on the network, driven in part by the tokenized SpaceX IPO.

Despite this on-chain growth, derivatives data tells a different story. SOL futures Open Interest dropped to $4.85 billion on Friday, down from $5.18 billion on Wednesday.

Long liquidations over the last 24 hours reached $13.66 million, compared to just $1.80 million in short liquidations, showing sellers were in control.

Market commentator BATMAN noted that Solana had been “rejected by its previous support level, now as resistance,” and that the stochastic oscillator had reached the same overbought region that preceded the last major top.

CoinGlass liquidation heatmap data shows a dense cluster of leveraged positions between $74 and $76. Additional liquidity sits near $65–$66.

The immediate support level remains at $70. A decisive close below that level could bring the June low around $62 back into focus, with Fibonacci projections pointing toward $60.

Bulls need a daily close above the descending trendline to shift momentum, with resistance levels at $74.80 and $79.30 above that.

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