Spot Solana exchange-traded funds (ETFs) have experienced a steady inflow of capital for the fourth day running, marking a notable divergence from the outflows observed in Bitcoin and Ether funds this week. Data from SoSoValue indicates that Solana ETFs attracted $44.48 million on Friday alone, pushing total inflows for the week to approximately $199.2 million and driving their combined assets beyond the $502 million mark.
The Bitwise Solana ETF (BSOL) was the primary beneficiary of this surge, contributing the majority of new investments and achieving a 4.99% increase on Friday. This follows its recent launch earlier in the week, which saw an initial asset base of $222.8 million. BSOL provides investors with exposure to Solana alongside an estimated staking yield of around 7%, a feature gaining traction among market participants.
By contrast, spot Bitcoin (BTC) ETFs underwent substantial net outflows, with Friday’s figures showing $191.6 million withdrawn from these products. This continued a pattern of profit-taking that has persisted throughout the week, including outflows of $488.43 million and $470.71 million on Thursday and Wednesday, respectively. Similarly, spot Ether (ETH) ETFs experienced $98.2 million in outflows on Friday, reducing their cumulative inflows to approximately $14.37 billion. They also faced notable withdrawals in the prior days, shedding $184.3 million on Thursday and $81.4 million on Wednesday.
Industry experts attribute this movement to what is being described as a “capital rotation” within crypto markets. Vincent Liu, Chief Investment Officer at Kronos Research, explained the trend, highlighting an increased investor appetite for newer narratives and yield opportunities linked to staking.
“The surge in Solana ETF investments corresponds with fresh market catalysts and a rotation of capital from Bitcoin and Ether, which are experiencing profit-taking phases after robust prior gains,” Liu said. “This transition reflects growing interest in alternative growth stories and the benefits of staking yields offered by certain altcoins.”
Analysts suggest that Solana’s positive momentum could persist into the near term, especially as Bitcoin and Ether enter phases of consolidation. However, they caution that broader market volatility driven by macroeconomic factors may influence these trends.
Alongside Solana, a new wave of crypto-focused ETFs is entering the market. Notable among these are Canary’s Litecoin (LTC) and Hedera (HBAR) ETFs, as well as the anticipated conversion of Grayscale’s Solana Trust into an ETF structure. Additionally, Hong Kong recently approved its first spot Solana ETF, reflecting growing institutional acceptance of altcoin ETFs in various regions.
The developments highlight an evolving landscape where altcoin-focused investment vehicles are gaining traction, providing investors with diversified exposure outside the traditional Bitcoin and Ether holdings.
