Solana ETFs lose $19.16 million in worst day since December as SOL stays above $100

US spot Solana exchange-traded funds recorded $19.16 million in outflows on Tuesday, October 27, the largest daily withdrawal since December 3, 2025. SoSoValue data identifies just one larger daily outflow since launch: $32.19 million on December 3, 2025. Investors withdrew another $8.23 million on Monday. The funds are heading toward the largest weekly outflow since launch.

This week's outflows total $27.38 million, already surpassing the $25.52 million withdrawn during the week ending October 16. This week's withdrawals also exceed the $24.81 million recorded during the week ending October 9. The October 9 week broke a run of 14 weeks of net buying. October withdrawals have reached $99.62 million, making October the funds' worst month. June was the only previous month with net outflows, at about $787,000.

The funds' total net assets have declined from $1.96 billion on September 25 to $1.54 billion. Cumulative net inflows have decreased by about $93 million during that period. SOL's price decline therefore explains most of the reduction in net assets.

BeInCrypto Markets data puts SOL at $101.87. Chart analysts identify $100 as important support, leaving SOL less than $2 above that level. SOL has declined 13.8% during October and is heading toward an eighth monthly loss in 2026. SOL has lost 3.7% over the past week.

A possible head-and-shoulders pattern was identified on October 21, when SOL traded near $106, with a neckline around $100. A daily close below $100 would confirm the pattern and make $80 a potential price level. MCO Global Research identifies an hourly support range of $98.86 to $100.47 and a swing low of $98.62. MCO Global Research says a fresh low would strengthen the evidence for additional declines. MCO Global Research says a rise above $109.20 would invalidate the firm's bearish count.

CryptoRank data shows that SOL has historically gained a median 15.3% in November since 2020. However, SOL lost 28.3% last November despite inflows into the newly launched ETFs. The ETFs attracted $419.38 million that month, the largest monthly inflow on record. ETF demand alone therefore failed to prevent SOL's decline a year ago. With ETF outflows now accompanying price volatility, spot buyers' ability to absorb redemptions may determine whether the head-and-shoulders pattern is confirmed.