Solana (SOL) Price: ETFs Record First $8.1M Outflow After 21-Day Inflow Streak

TLDR

• Solana ETFs recorded their first outflow of $8.1 million on November 27, ending a 21-day streak of continuous inflows since their October launch.
• The 21Shares TSOL fund drove the decline with $34.37 million in redemptions, while other Solana ETFs like Bitwise BSOL and Grayscale GSOL posted inflows.
• Solana ETFs now hold approximately 6.83 million SOL tokens worth around $964 million in total assets across all products.
• XRP ETFs continued attracting capital with $21 million in inflows on the same day, while Dogecoin’s new ETF launched with only $11 million.
• Solana network activity declined with a 6% drop in active addresses and 16% decrease in network fees over the past week.

Solana exchange-traded funds posted their first negative day on November 27, recording $8.1 million in net outflows. The reversal ended a 21-day pattern of continuous inflows that started when the products launched in late October.

The outflow came primarily from the 21Shares Solana ETF, which saw $34.37 million leave the fund in one trading session. TSOL has now recorded $26 million in total net outflows since its debut, with current net assets at $86 million.

Other Solana ETF products absorbed much of the decline. The Bitwise Solana Staking ETF brought in $13.33 million, pushing its cumulative total to $527.79 million. The Grayscale Solana Trust added $10.42 million, while Fidelity’s FSOL fund logged $2.51 million in new capital.

Solana ETFs currently hold about 6.83 million SOL tokens valued at roughly $964 million combined. Total net assets across all Solana ETF products stand at $917.99 million.

Despite the single day of outflows, Solana ETFs added nearly $103 million during the week. Cumulative inflows have reached $613.22 million since launch. November generated $414.01 million in inflows, more than double the $199.21 million recorded in October.

Competition From XRP Products

XRP ETFs have not recorded any outflow sessions since launching. The products added another $21 million in combined inflows on November 27, bringing their cumulative total to $643 million.

The Bitwise XRP ETF led with $7.4 million in new money. Canary’s XRPC brought in $5.2 million, followed by roughly $4 million each for Franklin Templeton’s XRPZ and Grayscale’s GXRP.

Rachel Lin, CEO of SynFutures, said investors may be moving away from higher-risk altcoins into assets with better regulatory clarity. She noted Solana holders tend to exit more quickly when market sentiment turns negative.

Bitcoin ETFs added $21.12 million on November 26. Total cumulative Bitcoin ETF inflows now stand at $57.63 billion, with daily trading volumes above $4.5 billion.

Network Activity Declines

Solana network data shows weakening activity across multiple metrics. Active addresses dropped 6% over the past week, according to Nansen data. Network fees fell 16% during the same period.

Total value locked on the Solana network currently sits at roughly $9.1 billion. This represents a 32% decline from the September peak of $13.23 billion.

Major Solana protocols including Jito, Jupiter, Raydium, and Sanctum each posted double-digit TVL declines this month. The New York Stock Exchange approved the listing of Grayscale’s Dogecoin Trust ETF, but the product launched with only $11 million in assets.

Solana is trading at around $141, up approximately 3.6% over 24 hours. The token remains down roughly 30% over the past 30 days and more than 50% below its all-time high of $293.31.

Prediction market Myriad placed a 92% probability on Solana failing to reach its previous high before year end. Traders identified the $140 to $145 price range as a key support zone.

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