Inside TSOL’s Launch: Solana ETFs Experience Record $55M Daily Inflow

The recent launch of TSOL, a Solana ETF, represents a significant event in the cryptocurrency landscape, attracting substantial institutional interest and contributing to a notable upswing in Solana's ETF market presence. With record inflows and a surge in Open Interest, Solana is establishing itself firmly among assets appealing to institutional investors.

Key Takeaways

The launch of TSOL signifies a pivotal moment for Solana, enhancing institutional engagement and broadening the ETF landscape for the asset.
SOL’s Open Interest increased by 5.28% to reach $3.2 billion, with recent price movements indicating strong bullish trends.
Solana [SOL] ETFs are increasingly becoming popular among institutional players.
In the U.S. market, Solana Spot ETFs are consistently gathering new investments, with ongoing steady inflows observed in the past days.
New entrants like 21Shares's TSOL are joining the expanding market of Solana spot ETFs.

Solana Gains Institutional Traction With TSOL Launch and Record ETF Inflows

Growing Momentum in Solana ETF Inflows

In the past week, Solana ETFs have shown a strong performance, consistently recording positive inflows. On November 20th, inflows peaked at a remarkable $55 million, contributing to a cumulative total net inflow of $476 million as of the latest updates. Leading the charge was Bitwise’s BSOL with inflows of $35.87 million, closely followed by Grayscale’s GSOL, which saw $12 million.

Solana ETFs Inflows
Source: SoSoValue

21Shares Introduces TSOL ETF

In a significant move, 21Shares, a prominent global issuer of crypto exchange-traded products (ETPs), has launched its anticipated Solana ETF in the U.S. This new financial product complements the firm’s existing European Solana ETP (ASOL), which holds the title of their largest offering in Europe, emphasizing the increasing acceptance of cryptocurrency in the U.S. investment landscape.

Federico Brokate, Global Head of Business Development at 21Shares, commented on the launch: "It's undeniable that crypto is here to stay, and we believe it will play a massive role in the future of the financial system. It’s encouraging to see regulatory frameworks shift to allow investors worldwide, including in the U.S., to gain transparent exposure to the crypto asset class."

The debut of TSOL represents a significant milestone for Solana, catalyzing higher volatility and attracting institutional interest. Recent Open Interest (OI) data highlights a strong uptick for SOL, with OI rising by 5.28% within the last 24 hours, reaching an impressive $3.20 billion.

Solana price analysis and open interests
Source: Coinalyze