The consolidated Solana-based exchange-traded fund (ETF) (SOL) posted its 10th consecutive day of net capital inflows.
While Bitcoin (BTC) and Ether (ETH) ETFs have been showing weakness every day, products related to SOL, which appeared on Wall Street two weeks ago, Since its establishment, a total of $343 million in admission fees has been collected..
November 10th ended with $6.78 million in net inflows into these ETFs. Bitwise Solana Staking Fund (BSOL) stands out as a leader, ranking as the most successful ETF launch so far this year, as reported by CriptoNoticias.
The graph below shows the flow of money into the SOL ETF on a daily basis.
The total net assets of these ETFs represent the total assets owned by the fund minus its liabilities. Currently reaching $600 million.
This performance contrasts with that of other digital assets. For example, Bitcoin ETFs had a quiet day on November 10th, with total net inflows of just $1.1 million, and the only product to report inflows was the Bitwise Bitcoin ETF (BITB).
bitcoin fund The previous week ended with the third worst weekly performance since the broadcast in January 2024.. Meanwhile, Ether ETF did not record any capital inflows or outflows during yesterday’s trading.
Despite the strong demand for the Solana ETF, the price of the SOL digital asset has not yet reflected the significant impact. This is because the size of these funds is still small compared to SOL’s total daily capitalization and trading volume in the global market.
Spot ETF managers are required to acquire and hold digital assets in their vaults to back the fund’s shares. This acquisition process creates direct and tangible demand and reduces the supply available on the open market, laying the foundation for potential price increases. Nevertheless, For now, fund flows from ETFs are not enough to decisively move SOL’s price..
(Tag translation) Altcoin
