Solana April 2026 Update

Institutional Flows: ETPs and DATCOs

SOL ETP inflows totaled $23.7M in April, slowing from $53.1M in March. Notably, spot ETPs only saw $8M in inflows, but futures-based ETPs such as Volatility Shares’ SOLT or SOLZ saw upwards of $16M in inflows. By contrast, Solana DATCO holdings remained virtually unchanged for a seventh consecutive month, constrained by limited secondary liquidity and persistent mNAV discounts. In April, Solana DATCO holdings totaled 16.97M SOL, flat from the month prior.

On a market cap adjusted basis, SOL ETP inflows in April amounted to 0.05% of SOL’s market cap. This is a meaningful decline from the median adjusted inflow of around 0.12% during the SOL ETF’s nine-month lifetime.

Network Health

Quantum Readiness

On April 27, Anza and the Firedancer team each released independent reports on Solana’s post-quantum migration paths, in which they converged on a signature scheme called Falcon as the leading candidate for verification. Following a recent Google paper that materially reduced the estimated resources needed to break 256-bit elliptic curve cryptography, Anza predicts the probability of a cryptographically relevant quantum computer within the next five years at 3% to 5%. While this threat is not imminent, both Anza and Firedancer have published initial implementations of Falcon’s compact signatures, demonstrating Solana’s quantum readiness.