Solana Sentiment Sours as Canary Marinade ETF Sees a Third of Assets Walk Out the Door
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The Canary Marinade Solana ETF, ticker SOLC, suffered heavy outflows on January 5, 2026, with investors pulling $509,584 from the fund. The latest redemption wave leaves the ETF with assets under management of $1,577,382, meaning roughly 32.3% of its capital base exited in a single day—a sharp vote of caution from holders.
Such a large, sudden drawdown in AUM raises questions about confidence in Solana-linked products after a choppy quarter for the underlying token. While SOLC remains relatively small in the broader digital asset ETF landscape, losing nearly a third of its assets in one session suggests that more tactical or leveraged investors may be de-risking rather than treating the product as a long-term vehicle.
The related asset, SOL-USD, is currently trading at $136.38, down about 27.7% over the past three months. Despite this drawdown, its 1-day technical signal sits at Hold, indicating that near-term momentum is neither strongly bullish nor decisively bearish. This neutral reading, contrasted with the aggressive outflows from SOLC, underscores a divergence between ETF investor behavior and short-term technical signals on the underlying token.
For now, the data points to an ETF market that is quick to retreat after a difficult quarter for Solana, even as technicians see room to wait and reassess rather than capitulate outright. Whether these redemptions mark a temporary shakeout or the start of a longer shift away from Solana-focused products will likely hinge on how the token trades in the coming weeks.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.