After Heavy ETF Inflows, SOL Buyers Step Back to Catch Their Breath

Solana’s spot ETFs, which launched on Oct. 28, logged an impressive streak of 21 straight days of inflows — a flawless run that lasted right up until the day before Thanksgiving — before finally showing signs of fatigue.

After a blockbuster November in which investors poured millions into the U.S.-listed SOL products, momentum cooled late last week. According to SoSoValue, Solana ETFs posted their first-ever daily outflow on Friday, losing $8.10 million. Although fresh buying briefly returned with more than $5 million in inflows that same day, the reversal didn’t last: Monday saw redemptions surge to $13.55 million.

The pullback marks the end of a three-week inflow streak that put Solana’s ETFs in stark contrast with bitcoin and ether funds, which suffered billions in outflows during November’s turbulent market sell-off.

Despite the recent slowdown, Solana ETFs remain by far the standout performers among crypto-linked products. Since their debut, they have accumulated more than $600 million in net inflows. Bitwise’s BSOL has attracted the lion’s share with over $540 million, while Grayscale’s GSOL sits in second place with nearly $80 million.

Over the same period, investors have withdrawn over $3 billion from bitcoin ETFs and more than $1 billion from ether ETFs.

The strong relative performance underscores rising institutional interest in assets beyond BTC and ETH. Reflecting that demand, Franklin Templeton filed on Nov. 21 for approval of its own Solana ETF, citing investor appetite for regulated avenues to gain exposure to the blockchain’s native token without holding it directly.