Solana’s spot ETFs, which went live on Oct. 28, enjoyed a flawless start with 21 consecutive days of inflows — a streak that lasted through the day before Thanksgiving — before finally cooling off.
After a month of aggressive buying that funneled millions into the SOL products, investor enthusiasm eased heading into the end of November. Data from SoSoValue shows the ETFs logged their first daily outflow on Friday, totaling $8.10 million. Although inflows briefly returned later that day with more than $5 million entering the funds, Monday delivered a sharp reversal as redemptions ballooned to $13.55 million.
The slowdown halts a powerful three-week run that set Solana ETFs apart from their peers. While SOL products absorbed steady inflows, bitcoin and ether ETFs were hit hard during November’s market turbulence, shedding billions.
Even with the latest pullback, Solana ETFs are still the standout performers among digital asset funds. Since their Oct. 28 debut, they’ve attracted over $600 million in net inflows. Bitwise’s BSOL accounts for the majority, pulling in more than $540 million. Grayscale’s GSOL follows with nearly $80 million.
In contrast, investors have withdrawn more than $3 billion from bitcoin ETFs and over $1 billion from ether ETFs during the same period.
The relative strength of SOL ETF demand highlights growing institutional interest beyond the established BTC and ETH categories. Supporting this trend, Franklin Templeton filed on Nov. 21 to launch its own Solana ETF, pointing to sustained appetite for regulated investment vehicles that offer exposure to the high-speed blockchain without holding the token directly.
