Leverage Traders Tiptoe Back Into Solana: ProShares’ SLON Sees Fresh Inflows Despite Price Slump
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The ProShares Ultra Solana ETF, SLON, attracted fresh capital on January 29, 2026, with net inflows of $690,790. The leveraged Solana vehicle now oversees $26.08 million in assets under management (AUM), meaning the latest flow represents roughly 2.65% of its total capital base—an unusually large single-day move that suggests renewed speculative interest even as the underlying token struggles.
The ETF’s design amplifies Solana’s moves, making SLON a barometer for risk appetite among traders who are willing to lean into volatility rather than shy away from it. The sizeable inflow, relative to AUM, hints that some investors may be positioning for a rebound or short-term trading opportunities, rather than abandoning the trade amid recent weakness.
The related asset, SOL-USD, is currently trading at $105.62. Over the past three months, Solana has dropped about 36.15%, a sharp correction that has cooled the exuberance seen in earlier rallies. Technically, the near-term picture remains fragile, with a 1-day signal flashing Sell, underscoring that momentum is still skewed to the downside.
That combination—weak spot performance but meaningful inflows into a leveraged ETF—highlights a classic crypto-market dynamic: long-term optimism and short-term speculation coexisting in an environment where volatility is the main feature, not a bug. Whether these new SLON buyers are early to a recovery or catching a falling knife will hinge on Solana’s ability to stabilize and reverse its negative trend.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.