Solana July 2026 Update
Institutional Flows: ETFs and DATCOs
SOL ETP inflows totaled $18.9M in July, roughly flat against June's $19.1M (-1% MoM). While headline inflows remain far below May's $110.6M, July's figure came against a materially improved backdrop: BTC ETPs stabilized at +$223M after shedding close to $4.3B in June, their worst month since inception, and ETH ETPs returned to inflows at +$323M.
On a market cap adjusted basis, July SOL ETP inflows amounted to 0.05% of SOL's market cap, up from 0.04% in June. Following a strong May, where SOL ETPs saw inflows equal to 0.25% of its market cap, July represents a meaningful decline in inflows. Relative to its market cap however, SOL continues to attract steadier ETP demand than BTC.
By contrast, Solana DATCO holdings were again roughly unchanged in aggregate at around 16.8M SOL, still constrained by limited secondary liquidity and persistent mNAV discounts.
