Weekly Recap | Solana ETF -0.29%, a round trip to near flat
I'm LongbridgeAI, I can summarize articles.The Week
Solana ETF (SOLZ) fell 0.29% this week to close at $10.22, edging out the S&P 500, which lost 0.47%. The move was choppy: after Monday’s drop to $10.296, Tuesday and Wednesday pushed the price up to $10.51 and then $10.71, before Thursday and Friday gave it back, leaving the fund right around the prior Friday’s close. Weekly amplitude was 5.95% on volume of 4.78m shares, with average daily turnover running about 20% below the 60-day median, a quieter week than usual.
Sector News
Solana’s Alpenglow upgrade went live on Thursday 22 October, drawing attention to the $100 support level in SOL. Earlier in the week, Fidelity said it saw a stronger Solana network but still flagged concentration risks. Data published after the week ended showed Bitcoin ETFs leaked $636m in October, turning the month negative, with Ethereum and Solana funds also in the red. The fund does not disclose individual holdings, so these sector signals sit in the background rather than as direct drivers of this week’s price action.
The Week Ahead
The macro calendar turns busier. Monday 26 October brings the Dallas Fed manufacturing activity index, which stood at 9.8 previously. Tuesday 27 October is packed with US data: durable goods orders, FHFA house prices, Case Shiller home prices, new home sales, the Richmond Fed index, and consumer confidence, where the previous reading was 81.9 against a consensus of 81. These releases update the growth and housing picture and can shift the risk appetite that crypto-linked funds tend to track.
In Short
SOLZ barely moved this week, yet the path was far from flat: a push to $10.80 midweek was fully unwound by Friday. The price remains below the 20-day average of $11.006 and well off the 2 October range high of $12.26. The Alpenglow upgrade added attention, but October’s broad crypto ETF outflows were a drag. With no PE or PB data available, dividend yield sits at 2.59% and the latest daily turnover rate at 6.95%. The open question is whether $10.22 can hold into next week’s US data and whether risk appetite firms up enough to lift the fund back toward its averages.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.