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- Solana ETFs post a fourth straight day of inflows as investors shift from Bitcoin and Ether.
- Cumulative inflows reach $199.2M, highlighting Solana’s growing dominance among crypto ETFs.
- Bitwise Solana Staking ETF gains traction with 7% yield and growing global interest.
Solana ETFs continued their winning streak on Friday, posting their fourth straight day of inflows. The steady rise reflects increasing investor confidence about Solana-focused products over a weakening sentiment towards Bitcoin and Ether. Analysts believe this trend indicates a general pattern of capital movement in the cryptocurrency market.
According to SoSoValue data, Solana ETFs had a new capital amount of $44.48 million on Friday. There are now $199.2 million in total inflows and assets under management of more than $502. The Solana ETF (BSOL) led daily gains with a 4.99% gain and performed the best as the top-performing product in the segment.
Source: SoSoValue
Bitcoin and Ether ETFs Record Major Weekly Outflows
Bitcoin ETFs continued to see redemptions. Investors withdrew $191.6 million on Friday, adding to a sequence of withdrawals that took off earlier this week. Outflows were for $488.43 million on Thursday and $470.71 million on Wednesday. Analysts are seeing the sell-off as profit-taking from a strong rally earlier in the month.
Ether ETFs also saw outflows. They lost $98.2 million on Friday, which pushes them into cumulative inflows of $14.37 billion. The number of withdrawals reached $184.3 million on Thursday and $81.4 million on Wednesday. The constant decline reflects a shift of money away from the two most popular cryptocurrencies to newer ones such as Solana.
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Solana ETF Momentum Builds as Investors Seek Yield
Vincent Liu, chief investment officer at Kronos Research, said the shift indicates a shift in what investors care about. Capitulation and new stimuli are helping Solana ETFs rally, he said. After a steady growth in Bitcoin and Ether, the traders are now on the lookout for yield opportunities in the staking mechanism and ecosystem expansion associated with Solana.
Liu expects this momentum to continue to pick up into next week. As Bitcoin and Ether concentrate, Solana is likely to keep seeing inflows, unless macroeconomic events hint at sudden volatility, he added.
Another recent development is the launch of the Bitwise Solana Staking ETF (BSOL). Launched on Tuesday with assets under management worth $222.8 million, the product provides Solana exposure with an estimated 7% staking yield. It has since quickly become a product of choice for investors looking for passive income within the crypto market.
Solana-based products are attracting more and more attention worldwide. Hong Kong recently approved its first spot Solana ETF, and other launches, such as Canary’s Litecoin and Hedera ETFs and Grayscale’s forthcoming Solana ETF conversion, are likely to occur in the near future. Analysts believe this capital distribution highlights Solana’s growing importance for cryptocurrency diversification.
Also Read: dYdX Expands to U.S. Market with Solana Spot Trading After Hitting $1.5 Trillion Volume
