U.S. Solana spot ETF records net inflows for 10 consecutive trading days…cumulative net inflows exceed $340 million
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- The U.S. Solana spot ETF recorded net inflows for 10 consecutive trading days, with cumulative net inflows surpassing $342.48 million.
- Analysis suggests investors view the Solana ETF as a 'high-beta complement' to Bitcoin and Ethereum ETFs.
- It said continued capital inflows could support the price downside via supply constraints and influence an acceleration of institutional capital inflows.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
The U.S. Solana (SOL) spot exchange-traded fund (ETF) recorded net inflows for 10 consecutive trading days, continuing the inflow of institutional funds.
On the 11th (Korea Standard Time), The Block reported, citing SosoValue data, that the Solana spot ETF recorded total net inflows of $6.78 million the previous day, marking 10 consecutive trading days of net inflows. By product, $5.92 million flowed into Bitwise's 'BSOL', and $854,480 flowed into Grayscale's 'GSOL'.
Since their launch on October 28, the two products have recorded net inflows on all but two occasions. Cumulative net inflows total $342.48 million.
Nick Luck, director of LVRG Research, said, "The net inflows into Solana ETFs exceeded expectations despite regulatory risks and concerns about technical uncertainty," and analyzed that "investors view Solana ETFs as a 'high-beta (risk-taking)' complement to Bitcoin (BTC) and Ethereum (ETH) ETFs." He added, "Such continued inflows constrain supply, supporting Solana's downside and accelerating institutional capital inflows."
As of 5:56 p.m. that day, Solana was trading at $164.15, down 1.50% from the previous day on CoinMarketCap.
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