Solana Leverage Trade Cools as ProShares’ SLON Sees Nearly 2% of Assets Walk Out the Door
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The ProShares Ultra Solana ETF, SLON, recorded net outflows of $664,148 on January 12, 2026, a notable retracement for a leveraged product built to ride Solana’s volatile swings. With assets under management now at roughly $33.87 million, the latest move represents about 1.96% of the fund’s AUM, hinting at a measurable pullback in risk appetite among traders who had been using the ETF for amplified exposure to the token.
The related asset, SOL-USD, is currently trading around $145.47, having shed roughly 28% over the past three months. That drawdown underscores how quickly sentiment can reverse in high-beta altcoins, particularly after a strong prior run-up that left positioning crowded and vulnerable to profit-taking and macro risk-off shifts.
Yet in the very short term, signals are turning more constructive. The one-day technical setup for Solana flashes a Buy, suggesting that momentum indicators and near-term trend gauges are pointing to a potential rebound, even as longer-horizon performance remains under pressure. The divergence between SLON’s outflows and the token’s improving daily technicals may indicate that leveraged ETF traders are de-risking faster than spot market participants, or rotating into other avenues of crypto exposure.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.