Solana Bulls Test the Waters Again as ProShares’ Leveraged SLON ETF Draws Fresh Cash
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The ProShares Ultra Solana ETF, SLON, attracted a fresh wave of inflows on January 20, 2026, pulling in $2,269,308 of new capital despite recent weakness in its underlying asset. The leveraged crypto-focused fund now manages $40,469,326 in assets under management (AUM), with the latest daily flow representing a sizeable 5.61% of its total AUM—an aggressive allocation shift that signals renewed risk appetite among speculative traders.
The related asset, SOL-USD, is currently trading at $130.06, having shed about 29.26% over the past three months as investors rotated out of high-beta tokens amid heightened volatility across the digital-asset complex. Despite that drawdown, near-term trading signals remain cautious, with the 1-day technical indicator flashing a Sell bias, underscoring the tension between tactical ETF inflows and still-fragile price momentum in Solana itself.
Viewed together, the robust inflow into SLON and the continued technical pressure on SOL-USD suggest that sophisticated investors may be trying to time a potential rebound, using leverage to amplify returns if Solana stages a recovery from recent lows. However, the same leverage that can boost upside also magnifies downside risks, leaving latecomers vulnerable if the token’s negative trend persists.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.