Spot Solana ETFs in the United States marked their tenth consecutive day of net capital inflows this past Monday. Despite a notable slowdown in their daily pace, the positive streak implies significant institutional interest, surpassing initial market projections.
According to market data, the Solana exchange-traded funds recorded a net inflow of $6.78 million on Monday. This flow was led by Bitwise’s BSOL fund, which attracted $5.92 million, while Grayscale’s GSOL, the only other available Solana fund, brought in $854,480.
Since the October 28 launch of BSOL, Solana ETF inflows have remained consistently positive, with the exception of two days when GSOL recorded no activity. Combined, the two funds have managed to attract a total of $342.48 million in net inflows.
Although ten consecutive days of net inflows is a significant achievement, Monday’s figure ($6.78 million) marks the lowest daily inflow recorded since the funds’ debut. This contrasts with the strong start last week, when the funds attracted nearly $200 million in their first seven days alone, and even recorded daily inflows exceeding $70 million last Wednesday.
This performance was described by Eric Balchunas, Senior ETF Analyst at Bloomberg, as a “huge number, good sign.”
Performance Exceeds Market Expectations
The initial success has defied prior skepticism. “The US spot Solana ETF inflow streak significantly outperformed pre-launch expectations that projected less institutional adoption due to Solana’s perceived regulatory and technical risks,” commented Nick Ruck, director at LVRG Research.
Despite initial expectations that the SOL funds’ success would be minimal compared to Bitcoin and Ether, investors appear to be adopting a diversification strategy. Ruck added that investors view Solana ETFs as a “high-beta” complement to BTC and ETH ETFs.
These participants are accepting greater volatility in exchange for potentially superior risk-adjusted returns, in what Ruck describes as a maturing altcoin cycle.
Looking ahead, the analysis suggests this demand could have a sustained impact on the price. “Sustained ETF inflows should provide durable price support for SOL by tightening supply dynamics and attracting institutional capital,” Ruck concluded.
Meanwhile, in the broader market, SOL’s price action showed a slight correction. Solana fell 1.85% in the last 24 hours, trading at $164.24. In comparison, spot Bitcoin ETFs saw net inflows of $1.15 million on Monday, while Ethereum ETFs recorded no net flows.
The information presented in this article is for informational purposes only and should not be interpreted as investment advice. The cryptocurrency market is highly volatile and may involve significant risks. We recommend conducting your own analysis.