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Solana (SOL) ETFs recorded 19 consecutive days of inflows totaling $476M since launching on October 28.
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Bitwise’s BSOL captured 89% of Solana ETF inflows at $424M by staking all holdings and charging 0.20% fees.
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Solana ETFs attracted $23M on November 21 while Bitcoin and Ethereum products lost over $1.6B that session.
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Solana (CRYPTO: SOL) ETFs just posted something rare in the current market conditions: 19 consecutive days of inflows, defying a sharp November downturn that erased billions in digital asset value. The streak continued even as Bitcoin CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs recorded heavy outflows, suggesting institutional investors are rotating into SOL exposure rather than fleeing crypto entirely.
With Solana prices stabilizing around $141 after a sharp drop from $186 and institutional confidence building, the persistent demand signals growing appetite for SOL despite broader market volatility. The question now is whether these funds can keep momentum going, or if Solana’s recent price struggles eventually catch up.
Solana ETFs launched in the U.S. on October 28, 2025, and immediately generated consistent capital inflows. As of November 21, the funds accumulated roughly $476 million in net new assets without recording a single day of outflows since debut.
Bitwise’s BSOL fund dominated early, grabbing 89% of total inflows at about $424 million. Here’s why that happened: BSOL stakes 100% of its SOL holdings, which means investors get yield on top of price exposure. The fund charges just 0.20% annually—lower than most competitors. During shaky markets, that combination of income and low fees proved attractive.
Other offerings from Grayscale (GSOL), Fidelity (FSOL), VanEck (VSOL), and 21Shares (TSOL) split the remainder.
On November 19 alone, Solana ETFs attracted more than $55 million. Bitwise pulled in $36 million while Grayscale took in $13 million. The 21Shares fund debuted that day with $100 million in assets, marking the fifth U.S. SOL ETF.
By November 21, the streak hit 19 straight days. Solana ETFs brought in $23 million even as Bitcoin and Ethereum ETFs lost more than $1.6 billion in a single session. This reflects that allocators used price weakness to buy rather than bail.
The continued inflows are striking given what happened to prices. Solana plunged nearly 30% from $186 in late October to $130, wiping out significant gains. But here’s why investors keep staking despite the bearish momentum.
Bitwise’s BSOL stakes 100% of its SOL holdings, delivering yield on top of price exposure. For institutions that want returns beyond pure speculation, this delivers actual income. That matters when budgets are tight and yield is hard to find.
The 0.20% fee helps too. It’s cheaper than many competing products, which makes BSOL attractive when every basis point counts.
There’s another interesting angle. Bitwise and Grayscale used a fast-track 8-A filing to launch quickly, beating other issuers to market. First-mover advantage let them capture early demand before competitors could set up shop.
November’s sell-off started with the Federal Reserve dashing rate-cut hopes. Bond yields spiked, the dollar strengthened, and leveraged positions got crushed. As volatility exploded, institutional flows reversed hard, and spot Bitcoin ETFs bled cash.
But here’s the thing: altcoins with staking-enhanced ETFs offered something Bitcoin products couldn’t—yield plus diversification. Once Bitcoin ETF redemptions stopped, Solana funds extended their streak with $29 million in inflows while Ethereum products added just $12.5 million. This shows that capital rotated rather than vanished.
Bloomberg ETF analyst Eric Balchunas pointed out that Solana funds accumulated about $2 billion in total assets, pulling money basically every day despite the extreme fear sentiment. It shows that large investors are building positions while retail traders stay cautious.
Matt Hougan, Bitwise’s chief investment officer, noted the fund gathered nearly $500 million in three weeks, making it one of the most successful ETF launches in history.
The strong early uptake signals confidence in Solana’s long-term investment case. Investors seem willing to look past short-term volatility for potential upside down the road.
Back in January 2025, JPMorgan researchers predicted newly approved Solana and XRP funds could pull billions of dollars, potentially outshining early Ethereum ETF growth. The forecast appears on track. Solana’s ETF inflows now rival the initial popularity of Ethereum products, which is impressive considering SOL is much smaller.
Solana processes around 70 million transactions per day and logged over $146 billion in monthly decentralized exchange volume. Yet fees remain negligible (roughly 0.000005 SOL per transaction). For context, Ethereum handles about 1.2 million transactions daily.
The network activity stayed strong even as prices tanked. That disconnect between fundamentals and price action is why ETF flows kept coming. Despite the impressive inflows, Solana posted the weakest quarterly performance among the top five large-cap coins, falling 26.5% in Q4 2025.
That divergence tells you something important: ETF accumulation isn’t a short-term momentum play. It’s a strategic bet on long-term utility. Large investors are looking at transaction throughput, DeFi volume, and low fees (not just price charts).
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