web3: Solana ETF on track for strongest inflows since May this week

Institutional funds are returning to the crypto market. As Bitcoin ETF capital flows improve, Solana ETF is also showing signs of recovery. BSOL, under Bitwise, saw its single-day net inflow rise to the highest level since May, drawing the market’s attention to this week’s overall performance.

Bitcoin ETF Restores Risk Appetite

According to Sosovalue data, Bitcoin ETFs just recorded their best weekly performance since April 17, with net inflows reaching 853 million US dollars. The capital return also pushed the price of Bitcoin back near 65,000 US dollars, with a rise of about 4% for the period.

Against this backdrop, some institutional funds have started shifting from Bitcoin to higher-risk assets. On August 10, Bitwise’s Solana ETF—BSOL—recorded a single-day net inflow of more than 8.83 million US dollars, marking the strongest single-day performance since May 12.

If inflows continue in the coming days, Solana ETF could record its strongest weekly capital absorption since May.

Solana On-Chain Transactions Hit Consecutive Highs

As funds flow back, Solana’s on-chain activity is also rebounding. Driven by memecoin trading, Solana’s non-voting transaction count has hit a new all-time high for two consecutive days, indicating a significant increase in demand for on-chain block space.

Revenue from ecosystem applications is also rising. Led by apps such as pumpfun, fomo, and Collector Crypt, Solana’s application revenue reached 23.9 million US dollars last week, the highest level since February 2026.

• BSOL single-day net inflow: over 8.83 million US dollars
• Bitcoin ETF weekly net inflow: 853 million US dollars
• Solana application weekly revenue: 23.9 million US dollars

Community to Vote on SOL Burn Proposal

The Solana community will soon vote on a governance proposal. SGP-003, proposed by cavemanloverboy, plans to introduce a resource fee mechanism and programmatically burn SOL based on on-chain transaction complexity, in response to ongoing discussions about value capture for SOL.

Supporters believe that if on-chain activity continues to rise, the new burn mechanism may increase the SOL burn rate, thereby changing the token supply rhythm.

Additional Information: The article also notes that the current buyback and burn mechanism on pump.fun uses 50% of protocol revenue for buying back PUMP on the open market. Since this program began, pump.fun has used more than 425 million US dollars for buybacks, and the tokens removed from circulation account for 15.82% of the total supply.