Solana exchange balances have plummeted to their lowest levels since October 2022, indicating a significant shift in investor behavior. Currently standing at just 27.01 million SOL on centralized exchanges, this decline reflects the increasing adoption of off-exchange custody solutions by institutional investors and retail participants alike. 27.4% less than its peak in early March (37.22 million SOL), the drop can be attributed to various factors. The introduction of the first batch of Solana futures ETFs on March 20th marked a crucial turning point, introducing institutional interest in the asset and driving off-exchange movement. This, coupled with the anticipated launch of spot SOL ETFs, has fostered trust for secure custody solutions like wallets held by professional investors. 2025’s forecast by Bloomberg paints a picture of substantial ETF approval, further cementing this trend.