Solana ETFs Defy Market Turmoil, Post 12th Straight Week of Inflows
Solana ETFs have continued their streak of consecutive inflows, reaching 12 weeks straight. The Bitwise Solana Staking ETF (BSOL) saw a significant influx, adding $48 million in a single session on Friday despite the Federal Reserve's interest rate hike. This comes after two days when both Bitcoin and Solana funds experienced losses.
Solana's inflows are particularly notable given that they coincided with the Senate's rejection of the CLARITY Act and the Federal Reserve's decision to raise interest rates. On September 15, Solana ETFs attracted $13.2 million in inflows, while Bitcoin spot ETFs saw losses of $450.33 million on the same day.
The contrast between Solana and Bitcoin's funds is stark, with Solana's total net assets standing at $1.42 billion compared to Bitcoin's $102.53 billion. However, Solana's funds have seen consistent growth, recording an additional $13.2 million in inflows during the week ending September 18.
The Bitwise Solana Staking ETF (BSOL) is the only Solana fund with disclosed inflows for the week, and its shares closed 12.12% higher, ahead of SOL's own 11.29% gain. BSOL stakes the coins it holds and passes the proceeds to shareholders, providing a yield in addition to price appreciation.