Solana ETFs Suffer Record Outflows as Price Plunges 40%

Solana's spot ETFs have seen significant outflows over the past month, totaling $150 million in net withdrawals. This has contributed to a decline in Solana's price, which has dropped by 40% in the same period. According to Santiment, the spot Solana ETF saw its second-largest outflow event on record, with nearly $12 million withdrawn on February 9.

The decline in Solana's price and ETF flows is part of a broader trend affecting the crypto market. Analyst Crypto Patel has noted that Solana has entered an accumulation zone between $50 and $75 and has begun accumulating the token himself. He predicts that Solana will reach multi-year price targets of $500 to $1,000.

Additionally, Solana's decentralized exchange (DEX) activity has decreased significantly, with daily volumes falling from $3.8 billion in January 2026 to $112 million on February 9. This decline in DEX activity is a concern for analysts, as it can indicate a loss of speculative liquidity and momentum.