Institutions Back Solana & XRP ETFs with $900M Amid Sell-Off
Solana ETF and XRP ETF products have attracted nearly $900 million in combined institutional inflows since launch, including over $600 million within days of debut, bucking a broader crypto market sell-off. Bitwise’s XRP ETF (XRP) led with $105 million on day one and Canary’s XRPC added $243 million on Nov. 14. SOL-based spot ETFs drew daily inflows between $8.3 million and $55.6 million, peaking on Nov. 19. Despite these gains, SOL and XRP tokens underperformed—SOL down 32.5% over 30 days (trading near $139) and XRP off 21.2% month-on-month (around $2.24) but up nearly 50% YTD. Investors view discounted altcoins as buying opportunities, using regulated Solana ETF and XRP ETF vehicles to absorb sell-side pressure. Continued demand could push SOL back toward $150, XRP toward $3, and support ETH above $3,200.
Bullish
Heavy institutional inflows into Solana ETF and XRP ETF amid a broader crypto sell-off signal strong demand for altcoin exposure. By absorbing sell-side pressure and providing regulated entry, these ETFs are likely to support token prices in the short term, stabilizing volatility. Continued capital inflows could drive SOL toward $150 and XRP toward $3, fostering bullish momentum that may extend into the long term as more institutional funds allocate to these high-beta assets.