Solana ETFs continue to attract investor interest, recording four consecutive days of inflows. This phenomenon occurs amidst a "capital rotation" from Bitcoin and Ether funds, which are experiencing profit-taking.
According to SoSoValue data, spot Solana ETFs received an additional $44.48 million on Friday, bringing cumulative inflows to $199.2 million and total assets to over $502 million. The Bitwise Solana ETF (BSOL) was a key driver, posting a 4.99% daily gain.
In contrast, spot Bitcoin ETFs saw $191.6 million in daily net outflows on the same day, continuing a week-long trend of profit-taking. Bitcoin funds recorded outflows of $488.43 million on Thursday and $470.71 million the previous day.
Similarly, spot Ether ETFs posted $98.2 million in outflows, reducing their cumulative inflows to $14.37 billion. Ether funds shed $184.3 million on Thursday and $81.4 million on Wednesday.
Vincent Liu, Chief Investment Officer at Kronos Research, suggested that this shift towards Solana ETFs reflects a growing appetite for new narratives and staking-driven yield opportunities. He also anticipates Solana's momentum to continue, as Bitcoin and Ether consolidate.
The market also witnessed a new wave of crypto ETFs this week, including Bitwise's Solana Staking ETF (BSOL), which launched with $222.8 million in assets and offers an estimated 7% staking yield. Additionally, other funds such as Canary's Litecoin and Hedera ETFs, along with the anticipated conversion of Grayscale's Solana Trust into an ETF, are entering the market. Hong Kong has also approved its first spot Solana ETF.