Solana ETFs Record Highest Daily Inflows Since Launch Week - Bottom Found?

Institutional appetite for Solana ETFs is not going anywhere. Despite an extended market-wide drawdown that has seen $SOL plummet 36% in the last two months, TradFi players are buying the dip.

Led by Bitwise’s $BSOL, Solana ETFs have opened this week strong with $58M in net flows; the highest daily inflows since launch week. This marks 20 straight days of sustained buy pressure from ETF investors.

As the total AUM of Solana ETFs approaches $1B, all eyes now turn to Franklin Templeton, whose $SOL ETF is still waiting in the wings.

$BSOL Continues to Lead Inflows

After a small bounce in crypto markets over the weekend, institutional capital appears to have regained its confidence. Solana ETF demand is back with a vengeance, recording the highest daily inflows since launch week. 

According to Farside data, Bitwise’s $BSOL led capital inflows across all listed funds, adding $39.5M to its AUM on November 24. $BSOL commanded 68.1% of the day’s $SOL ETF inflows, which totalled $58M.

Beyond $BSOL, funds from rival issuers are starting to gain stronger momentum. Both Fidelity’s $FSOL and VanEck’s $VSOL recorded their highest-ever daily inflows, with $9.7M and $3.1M, respectively.

Remarkably, Solana ETF flows are at odds with wider market dynamics. While months of devastating price action have pushed crypto native market participants to throw in the towel, TradFi is evidently eager to buy the dip.

Bitwise CIO Matt Hougan has insinuated that the current downturn represents a prime opportunity for “patiently bullish” institutions, who may have been sidelined by the restrictive policies of the former U.S. administration. 

The return of institutional appetite for crypto assets has given beleaguered traders and investors a glimmer of hope, suggesting that we might not be settling in for another long crypto winter. 

Solana ETFs Hit 20-Day Inflow Streak

Solana ETFs have enjoyed an undeniably strong market debut. In addition to $BSOL recording over $56M in volume on its first day of trading (the largest ETF launch of the year), Solana ETFs have experienced 20 consecutive days of net inflows.

Comparatively, neither Bitcoin nor Ethereum ETFs managed more than a few days before seeing net outflows and enduring a drop in AUM, following their respective launches. 

Bitcoin (Top) and Ethereum (Bottom) ETF daily inflows, cumulative inflows, volume, and AUM at launch, provided by SoSoValue

That being said, it’s difficult to compare metrics across various crypto ETF launches, given the dramatic differences in circumstances for each asset. Bitcoin and Ethereum ETFs both launched during a time when Gary Gensler, known for a strict regulation-by-enforcement approach to crypto policy. Meanwhile, Solana ETFs were birthed underneath a more progressive regulatory landscape, but were still hamstrung by a government shutdown that complicated listings.

Total $SOL ETF AUM Approaches $1B

With fresh capital pouring into Solana ETFs with renewed intensity, the collective AUM of all U.S.-based funds is rapidly approaching its first $1B. Solana Strategic Reserve data suggests that $SOL ETFs hold just over $870M in AUM.

Given that Solana ETFs attracted over $127.9M in inflows last week, it wouldn’t be unreasonable to anticipate the total AUM across all funds reaching $1B in the near future. Outside of inflows alone, a 15% increase in $SOL value, rising to $157, would also bring the total AUM of $SOL ETFs up to $1B.

Supported by strong and consistent inflows, the collective AUM of Solana ETFs is keeping pace with analysts' expectations. In January 2025, JP Morgan originally forecasted that Solana ETFs could see between $3-6B in inflows within their first 6-12 months. The bank re-evaluated its position in October, changing its projections to ~$1.5B in the first year.

Despite ailing market conditions that have inflicted a 35% drawdown in the last 60 days, Solana ETFs have still attracted over $800M within their first month. While still slightly behind a SolanaFloor report published in July, it’s worth noting that Franklin Templeton’s fund has yet to launch. 

Additionally, many projections were based on the proportionate AUM-to-marketcap ratios of BTC and ETH ETFs, which benefitted enormously from funds operated by Blackrock, the world’s largest asset manager.

Solana ETF Inflows are expected to be further reinforced by the impending launch of the Franklin Templeton fund. One of the world’s largest asset managers, Franklin Templeton has been a staunch advocate of Solana for several years. Hence, one could expect that the TradFi giant’s clientele might be eager to gain exposure to $SOL through the firm’s ETF.

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