Record Inflows of $58 Million for Solana ETF Amid Continuous Weekly Gains: Insights from Solana's Founder

In the past week, U.S. spot Solana exchange-traded funds (ETFs) demonstrated exceptional performance, achieving daily net inflows of $58 million on Monday. This milestone marks the highest inflow level since early November.

Key Takeaways

Solana ETFs recorded $58 million in daily net inflows, a record since November.
The consecutive inflow streak reached 20 days, showcasing strong market performance for Solana despite challenges faced by Bitcoin and Ethereum.
Bitwise’s BSOL led the daily inflows with $39.5 million, marking the third-largest inflow since the ETF's launch.
Institutional interest in Solana is rising, as evidenced by new tokenization projects.
Despite positive inflows, the price and trading volume of SOL remain impacted by broader market conditions.

Record Inflows of $58 Million for Solana ETF Amid Continuous Weekly Gains: Insights from Solana's Founder

These latest inflows extend Solana's remarkable streak to 20 consecutive days of positive growth, showcasing one of the most robust ETF performances in the digital asset sector this year.

The surge in Solana ETF inflows is occurring while Bitcoin and Ethereum ETFs experience significant capital outflows. This article explores the reasons behind the growing interest in Solana, recent market trends, and the perspectives of analysts on the future of Solana ETFs.

Solana ETFs Outperform Bitcoin and Ethereum Amidst Market Challenges

According to data from SoSoValue, Bitwise’s BSOL led the daily inflow by attracting $39.5 million, representing the third-largest single-day inflow since the ETF's launch in late October. This brought the total net inflows for Solana ETFs to $568.24 million. The combined net assets increased to $843.81 million, equivalent to 1.09% of Solana's market cap.

Solana ETF Performance

The ongoing inflow trends contrast sharply with the broader market, where Bitcoin and Ethereum ETFs have incurred substantial capital outflows. From November 3 to November 24, Bitcoin ETFs experienced a monthly outflow of $3.70 billion, while Ethereum ETFs faced outflows of $1.64 billion.

Bitcoin and Ethereum ETF Outflows

Solana stands out as the only major asset showing consistent inflows throughout November, accumulating $369 million over the previous three weeks while both BTC and ETH funds lost capital. Analysts indicate that this trend reflects a growing institutional interest in the digital asset market.

Despite the initial expectations of slower uptake for Solana ETFs amid recent downturns, the ongoing inflows suggest that Solana is increasingly regarded as a "blue-chip" asset. This established capital base could offer sustained support, even as risk appetite in the cryptocurrency sector declines.

Furthermore, the rise in traditional finance firms utilizing Solana for tokenization projects, such as xStocks—which tokenizes U.S. equities and ETFs—indicates growing institutional engagement.

However, experts caution that the strength of Solana ETFs does not guarantee immediate price increases. The price of SOL is still heavily influenced by overall market sentiment, and any significant price changes may take time to materialize.

Growth of Solana ETFs Approaching $1 Billion in Assets Under Management

Among individual issuers, Bitwise’s BSOL dominates, possessing $567.10 million in net assets. Grayscale’s GSOL follows with $117.90 million after a gain of $4.66 million on Monday.

Solana ETF Issuer Assets

Fidelity’s FSOL and VanEck’s VSOL have also recorded some of their highest inflows to date, at $9.7 million and $3.1 million, respectively. Meanwhile, 21Shares’ TSOL and Canary’s SOLC have continued to show moderate but positive inflow activity.

Over the six days from November 17 to November 24, Solana ETFs welcomed $177.93 million in new capital, rising from $390.31 million in cumulative inflows to $568.24 million. The combined assets of Solana ETFs are nearing a significant $1 billion milestone, with current assets exceeding $870 million.

A new potential inflow driver is on the horizon: Franklin Templeton’s Solana ETF is anticipated to stimulate additional institutional demand once it receives approval.

Despite the positive trends in ETF inflows, broader market conditions remain challenging. Currently, SOL is down 30% over the last month, showing decreased trading volume and negative perpetual funding rates. The token trades at around $137, a decline of 1% on the day and 13% over the past two weeks.

SOL Price Performance

Originally in January 2025, JP Morgan projected that Solana ETFs could see inflows of $3-6 billion within the first 6-12 months. However, in October, the bank revised its forecast to approximately $1.5 billion for the first year.

Technical indicators suggest that SOL is currently in a larger corrective phase. Analysts observing the asset's Elliott Wave structure believe that the market may be navigating through a deeper Wave C decline, with potential downside targets between $80 and $95 if current support levels falter.

Technical Analysis of SOL

Additionally, SOL is trading below its 200-day exponential moving average (EMA), which often indicates prolonged consolidation periods in price action.

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