Solana-based exchange-traded fund (ETF) (SOL) continued its strong performance in its first week of trading on Wall Street, recording cumulative net capital inflows worth $284 million.
This positive flow is in stark contrast to Bitcoin (BTC) and Ether (ETH) ETFs. Large-scale capital outflows occurred for five consecutive days.
Driving this performance is the Bitwise Solana Staking ETF (BSOL), which has raised $275 million since its successful launch, as reported by CriptoNoticias. Meanwhile, Grayscale Solana Trust (GSOL) reported inflows of $8.8 million, which is significantly less than its competitors.
The graph below shows the flow of funds to and from the Solana ETF on a daily basis.
This initial interest from investors is due to the novelty that these investment vehicles represent in traditional financial markets. Provide a regulated and accessible means of accessing SOL digital assets and gain attention From a wide range of capital.
While the SOL price does not reflect the immediate impact of the ETF’s strong performance, if this capital accumulation trend continues and strengthens in the coming weeks, it could create significant bullish momentum in the underlying asset’s valuation.
In contrast to SOL’s strong start, Bitcoin and Ether ETFs are entering a period of withdrawal. Cumulative capital outflows from BTC exchange-traded funds reached $1.9 billion The amount of ETH this week is $700 million.
