Solana has unexpectedly turned into the standout winner of November’s ETF flows, not because of a sudden speculative frenzy, but because investors have started treating it like a yield engine hiding inside a blockchain.
Key Takeaways
- Solana staking ETFs attracted strong inflows while Bitcoin and Ethereum ETFs saw heavy redemptions.
- Investors are treating SOL as a yield-producing asset rather than a short-term trade.
- On-chain staking participation continues to rise even during price volatility.
While headlines kept swirling around Bitcoin and Ethereum ETF outflows, a quiet rotation of capital was moving toward an asset that pays holders for participating in the network rather than waiting for price appreciation alone.
Instead of fleeing to safety, investors — both institutional desks and ordinary token holders — have leaned deeper into Solana’s staking economy. The thinking is simple: if traditional yields are thinning and Bitcoin ETFs don’t produce staking income, a blockchain that pays 5%–7% annually just for holding becomes an attractive alternative.
Where the Money Actually Went
For most of November, the wider crypto ETF landscape looked negative on paper. Billions walked out of Bitcoin ETFs. Ethereum products also experienced heavy redemptions.
Yet Solana-linked staking ETFs did the exact opposite — pulling in $369 million in fresh inflows in the same time frame. Not rotation, analysts say — preference.
That shift becomes even more striking considering that SOL has traded across a wide range this year, from $100 to $260. Despite the price swings, staked supply kept rising rather than falling — climbing from 350 million to 407 million SOL over the year. Participation didn’t freeze during volatility; it grew.
A Behavior Change Among Holders
The most telling part isn’t the ETF flows — it’s what stakers did on-chain. Retail delegators increased. Large holders consolidated rather than exiting. Wallets with long-term delegation periods kept rising, signaling patience rather than traders chasing tops.
Even during the sharpest dips, investors added more than 238,000 SOL in new delegations across retail addresses within a single 25-day window. Trezor users alone staked over one million SOL through Everstake in November — a number impossible to ignore.
Why Solana Is Pulling Ahead of Other Yield Assets
Ethereum also supports staking, but ETF access to staking is still extremely limited. Bitcoin, by design, offers no yield at all. That leaves Solana as the most accessible income-producing token through regulated investment products.
It’s not a coincidence that over 67% of all circulating SOL is now staked, placing the network in a small club of blockchains where staking isn’t a side feature — it’s the core mechanic of value retention.
Asset managers recognized the demand early. Solana ETFs launched last month drew more than $420 million in their debut week, offering a liquid wrapper for institutions to own SOL exposure while still benefiting from staking economics.
A Different Kind of Crypto Cycle
A year ago, the market mostly separated coins based on narrative — memes, L1s, AI tokens, DeFi tokens, and so on. Now a new divide is emerging:
• assets people hold because they pay
vs.
• assets people hold because they might go up
Solana, right now, sits in the first category — and the capital has been following that category throughout November.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/solana-outshines-bitcoin-and-ethereum-with-massive-inflows-in-november/