Spot Solana ETF products are yet to complete their first week after launching on Bitwise and Grayscale yet they’ve performed exceptionally well in contrast with Ethereum and Bitcoin ETFs.
The cumulative inflows have surged to nearly $284 million, thanks to growing institutional interest in Solana-based products.
By contrast, spot Bitcoin ETFs and Ethereum ETFs continued to face heavy redemption, marking their fifth consecutive day of outflows.
However, Solana funds maintained steady momentum, extending their inflow streak to six straight sessions.
Solana ETF Outshine Ethereum & Bitcoin ETF With 6-day Inflow Streak
Spot Solana ETFs recorded inflows for the sixth consecutive day on Wednesday, in contrast to Bitcoin and Ethereum exchange-traded funds, which posted $800 million in outflows.
Data from Farside Investors showed that spot Bitcoin (BTC) ETFs lost $578 million on Tuesday — their sharpest single-day decline since mid-October.
BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC accounted for most of the withdrawals, underscoring investors’ growing caution toward the market’s largest digital asset.
Ethereum ETF funds also faced continued selling pressure as Spot Ether ETFs registered $219 million in redemptions, led by Fidelity’s FETH and BlackRock’s ETHA.
This marked the fifth straight day of outflows, bringing total capital drained from Ether-linked ETFs to nearly $1 billion since late October.
In stark contrast, Solana (SOL) products bucked the trend. Spot Solana ETFs attracted $14.9 million in net inflows, extending a steady six-day run of gains.
Bitwise’s BSOL and Grayscale’s GSOL led the advance, as institutional investors appeared to shift focus toward the emerging, yield-generating asset.
Ethereum ETF Outflows Continue To Deepen
Among all spot Ethereum ETF products, BlackRock’s ETHA led with the highest amount of outflows, recording outflows of $111.08 million.
Grayscale’s ETH product followed, losing $68.64 million. Fidelity’s FETH and Grayscale’s ETHE also saw withdrawals of $19.86 million and $19.78 million, respectively.
Meanwhile, a list of five other issuers including 21Shares, Bitwise, VanEck, Invesco, and Franklin Templeton reported no activity.
Analysts said this lack of movement underscores investors’ fading appetite for Ether-linked funds after weeks of steady selling.
Spot Bitcoin ETFs faced a similar trend after notching their fifth straight day of outflows, with $577.74 million leaving the market.
The parallel decline in both Bitcoin and Ether products points to overall cooling in sentiment across the crypto ETF space.
Solana ETFs Performed Exceptionally Well On Their First Week Despite The Overall Crypto Market Bloodbath
Following months of waiting for a greenlight from the United States Securities and Exchange Commission (SEC) finally approved several of the first wave altcoin ETFs including Litecoin, HBAR and Solana ETF products.
The decision marked a major step for major altcoins with investors getting a chance to expand their portfolio beyond Ethereum and Bitcoin ETF products.
Meanwhile, HBAR, LTC, and SOL have each dropped between 12% and 22%. Canary’s HBAR and Litecoin funds showed modest signs of recovery after a sluggish debut. Yet, market pundits noted that Solana products BSOL and GSOL outpaced their altcoin peers.
Data from SoSoValue indicated that Solana ETFs drew roughly four times more investment than Canary’s HBAR fund and an astonishing 170 times more than its Litecoin product.
The strong inflows underscored the growing investor confidence in Solana’s ecosystem, even as the broader altcoin market struggled to gain traction.