Solana Spot ETFs Pull in Over $620M Amid 20% SOL Price Slide
US-listed spot Solana ETFs have pulled in over $620 million in combined inflows during their first two weeks. In week one, Bitwise’s Solana Staking ETF (BSOL) led with roughly $197 million, while Grayscale’s Solana Trust (GSOL) added about $2.2 million.
In week two, Solana spot ETFs recorded a net $421 million inflow. BSOL attracted $199 million plus $223 million in seed capital; GSOL maintained $102 million in AUM post-conversion. Combined assets now exceed $500 million.
The strong demand for Solana spot ETFs contrasts with SOL’s price performance. SOL has tumbled nearly 20% to around $165 a week after the ETF launch, underperforming Bitcoin (-6%) and Ether (-12%).
Lower fees on BSOL (0.20%) versus GSOL (0.35%) boosted uptake. K33 Research highlighted solid investor demand despite outflows from BTC and ETH funds. Traders will watch whether sustained ETF inflows can stabilize SOL.
Bearish
Significant ETF inflows underscore strong institutional interest in Solana, but the concurrent 20% drop in SOL indicates cautious market sentiment and profit-taking. In the short term, selling pressure may persist as traders lock in gains following the ETF launch. Over the longer term, continued inflows and lower fees could provide support, yet high volatility suggests a bearish bias until buying pressure intensifies.