Solana ETFs recorded $4.9 million of net inflows in the week ending Sept. 4, down about 97% from $142.7 million across the previous five trading sessions, according to Farside Investors. The decline measures weekly net flows, not fund assets, SOL’s price or investor numbers. Bitcoin funds instead increased net inflows to $986.7 million from $924.5 million, while Ethereum inflows fell to $215.3 million from $815.7 million. All three cohorts remained positive for the latest week, indicating a shift in allocation momentum toward Bitcoin rather than a broad retreat from crypto funds. Solana’s non-zero flows were limited to BSOL, FSOL and GSOL; VSOL, TSOL and SOEZ recorded zero net flow on every session. On Sept. 4, Solana ETFs posted $5.2 million of net outflows, compared with $25.9 million of Ethereum inflows and $174.6 million of Bitcoin inflows, although Solana remained positive for the full week. Separately, the CFTC’s combined positioning report showed leveraged funds holding 1,069 long and 3,615 short futures-equivalent contracts in standard CME SOL as of Sept. 1. At 500 SOL per contract, that represented a net short of 1,273,000 SOL, narrower than the 2,166,500 SOL net short on Aug. 25. The change reflected both a 577-contract increase in longs and a 1,210-contract decline in shorts, while spreading positions were excluded from the net calculation. The data predates the end of the ETF week and does not identify matching trades, forced covering, ETF hedges or the cause of SOL’s price movement. Sustained Solana ETF demand would be better supported by repeated positive weeks, broader product participation, consistent asset-base comparisons and gross creation and redemption data.