Despite significant redemptions from Bitcoin and Ethereum Exchange Traded Funds (ETFs), Solana has attracted $369 million in inflows this month. This surge in investment indicates that investors are increasingly viewing SOL as a yield-generating asset rather than solely a speculative trade.
Bohdan Opryshko, co-founder and chief operating officer of Everstake, noted that both institutional and retail investors are now treating Solana as a yield-generating asset. This shift is partly driven by Solana's native staking rewards, which range from 5% to 7%. Opryshko highlighted that these rewards offer an appeal that Bitcoin ETFs cannot match, and only a limited number of Ethereum products currently provide comparable yields.
Data from SoSoValue reveals that between November 3 and November 24, Bitcoin ETFs experienced net redemptions totaling $3.7 billion, while Ether ETFs lost $1.64 billion. In contrast, Solana staking ETFs drew $369 million in fresh inflows during the same period. Opryshko suggested this trend represents more than just capital rotation, pointing to a growing preference for yield-bearing exposure.
407 Million SOL Now Staked
The total staked supply on the Solana network has grown from 350 million to 407 million SOL, even as SOL's price has fluctuated between $100 and $260 this year. Retail delegators increased from 191,179 to 194,157 between October 30 and November 24, adding over 238,000 SOL to the staked supply during a market downturn.
Whale delegators have shown consolidation rather than exit, with a decline in their numbers but the total stake remaining largely steady. Opryshko mentioned that Trezor users alone staked over 1 million SOL through Everstake during the month.
Opryshko further explained that this trend suggests a bifurcation in crypto investing following ETF approvals: speculative assets are traded for appreciation, while productive assets are staked for income. He asserted that for an increasing portion of the market, staking yield has become a central, though not exclusive, driver of asset allocation.
Solana Builds Strong Yield Profile
According to data from Coinbase, 67% of all circulating SOL is currently staked. Sebastien Gilquin, head of business development and partnerships at Trezor, commented that Solana has established one of the strongest staking profiles among major proof-of-stake blockchains.
Gilquin observed that institutions are now gravitating towards productive assets as traditional yields tighten. Solana-based ETFs attracted over $420 million in their debut week last month, demonstrating a clear appetite for liquid products that still offer native staking returns.
He added that data indicates retail delegators are adopting a more long-term perspective, with delegation lifetimes steadily increasing throughout 2025 and participation remaining strong even amidst market volatility.