Solana ETFs Record $45.7M in Daily Inflows as Vanguard Changes Stance on Crypto

Solana ETFs have bounced back following the break of a historic 22-day inflow streak, with Vanguard’s listing of crypto ETFs across its platform a likely cause of renewed demand.

Boasting $11T in AUM, Vanguard’s listing reportedly brings crypto ETF investing for around 50 million clients.

Vanguard’s acceptance of crypto assets comes amidst a wider market upturn, which saw $400m in liquidated shorts as $BTC reclaims $93,000.

Vanguard Lists Solana ETFs

Vanguard, the world’s second-largest asset manager, has just reversed its platform-wide crypto ban, enabling clients to trade and invest in crypto-based ETFs and mutual funds. 

The firm’s listing of crypto ETFs, including investment vehicles tracking the price of $SOL, comes as a remarkable turnaround for Vanguard, which has typically rejected crypto assets.

Vanguard joins a growing number of TradFi titans working to make crypto investment more accessible than ever. 

In early November, SoFi became the first US-regulated bank to enable $SOL investments through retail banking channels. More recently, Bank of America is advising its wealth-management clients to allocate anywhere between 1-4% of their portfolios to crypto assets.

$SOL ETF Inflows Bounce Back After Breaking Streak

Vanguard’s embrace of crypto assets appears to have had a resounding effect on markets, particularly for Solana ETFs. After breaking a 22-day inflow streak since launch, Solana ETFs are once again catching a bid from investors.

Bitwise’s $BSOL has once again led Solana ETF markets, netting $29.4M in inflows and increasing its AUM to $663M. Pursuant to  SEC filings showing that Franklin Templeton’s impending $SOL ETF has been approved for listing on NYSE Arca, $SOEZ has finally gone live, with a market-best 0.19% sponsor’s fee.

Meanwhile, CoinShares has retracted its filings, abandoning its pursuit to offer a $SOL ETF to its client base. The withdrawal is likely due to the underwhelming performance of smaller issuers in the face of Bitwise’s market dominance.

$400M in Shorts Liquidated

Alongside surging inflows into crypto ETFs, sentiment across markets has flipped remarkably positive in the last 48 hours. Between Vanguard’s listing of various crypto ETFs and the U.S. Federal Reserve officially ending quantitative tightening, traders and investors are cautiously optimistic in the bull market’s return.

After touching as low as $82,000 on November 21, $BTC has bounced almost 12% off the local bottom to currently exchange hands at just over $92,000. According to Coinglass data, over $400m in short positions has been liquidated in the past 24 hours, giving crypto bulls some welcome relief after what has been a dramatic 2-month downturn.

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