Spot Solana exchange-traded funds (ETFs) traded in the US recorded their 20th consecutive day of net inflows, continuing the upward trend that began at the end of October.
20-Day Continuous Intro in Spot Solana ETFs: Institutional Interest Strengthens
According to SoSoValue data, Solana ETFs saw a total net inflow of $58 million yesterday alone. $39.5 million of that went into Bitwise’s BSOL fund, marking the largest daily increase since November 3rd.
A total of $568.24 million has flowed into spot Solana ETFs since BSOL launched on October 28. Total assets under management across the six different Solana funds reached $843.81 million, representing approximately 1.09% of SOL’s market capitalization.
Nick Ruck, director of LVRG Research, stated that the strong demand for Solana ETFs exceeded expectations, saying, “Despite market conditions, Solana is showing its maturity as a blue-chip asset for institutional investors.
“There is increasing interest from professional investors seeking diversification beyond Bitcoin and Ethereum,” he said. Ruck emphasized that the de-risking trend in the overall crypto market is putting selling pressure on Solana, but ETF inflows will provide a supportive backdrop for the price in the medium term.
BTSE COO Jeff Mei noted that traditional financial institutions are increasingly developing tokenization projects based on Solana’s infrastructure. Despite this, he noted that the SOL price has been declining in recent weeks, following general market trends.
Meanwhile, spot XRP ETFs saw their second-highest daily increase in history on Monday, with net inflows of $164 million. GDOG, the first spot Dogecoin ETF to begin trading on the New York Stock Exchange on the same day, saw no net inflows despite generating $1.41 million in volume on its first day of trading.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/solana-exchange-traded-funds-etfs-positively-differentiate-from-the-market-institutional-interest-grows-here-are-the-details/
