Solana ETFs Extend 13-Day Inflow Streak as Institutions Buy the Dip

Solana ETFs have maintained their positive run with $1.49 million in net inflows on November 13. This is the 13th consecutive day of institutional buying.

The continued interest comes as Bitcoin and Ethereum spot ETFs experienced sharp outflows on the same trading day.

Solana ETFs Extend Inflow Streak to 13 Days

Data from SoSoValue shows that Solana ETFs recorded daily net inflows of $1.49 million as of November 13.

The figure brings cumulative total net inflows to $370.01 million since launch. Total value traded for the day reached $52.62 million across both available products.

The 13-day inflow streak began on October 28 with $69.45 million entering the funds. The period saw peak daily inflows of $70.05 million on November 3.

Even with the recent $1.49 million figure representing the smallest inflow during this streak, the consistent positive flow shows sustained institutional demand.

Bitwise’s BSOL holds net assets of $436.72 million with a market share of 0.53%. The fund recorded inflows of 10.47K on November 13.

Grayscale’s GSOL maintains $96.71 million in net assets with a 0.11% market share. The product saw no inflows on the same day.

Bitcoin and Ethereum ETFs See Large Outflows

While Solana ETFs continued their positive run, Bitcoin spot ETFs faced their largest single-day outflow in recent weeks.

The products generated $869.86 million in revenue on November 13. Cumulative total net inflows for Bitcoin ETFs dropped to $59.34 billion. Total value traded reached $6.53 billion on the day.

Ethereum spot ETFs recorded outflows of $259.72 million on November 13. The figure pushed cumulative total net inflows down to $13.31 billion.

Total value traded for Ethereum ETFs was $2.54 billion. Total net assets across all Ethereum ETF products stand at $20.30 billion.

The contrasting flow patterns between Solana ETFs and the larger Bitcoin and Ethereum products highlight different institutional approaches to the three assets during the current market situation.

Institutions Appear to Buy the Dip in SOL

The continued inflows into Solana ETFs come against a backdrop of price weakness for the underlying asset.

Data shows Solana has declined 32.3% over the past 30 days. The token is down 26.4% over the past 14 days and 10.2% over the last seven days. In the last 24 hours alone, Solana dropped 11.6%.

The price currently sits below $140 after reaching higher levels in recent months. The sustained institutional buying through ETF products suggests some investors view the price decline as a buying opportunity.

Weekly data provide a clearer view of the trend. The week ending November 13 brought $34.30 million in total net inflows for Solana ETFs.

The previous week saw $136.50 million flow into the products. The week ending October 31 recorded $199.21 million in inflows.

Solana ETF Market Structure and Outlook

The Solana spot ETF market comprises two products listed on the NYSE. Both funds provide exposure to the token without requiring investors to hold the digital asset directly.

Total net assets across both Solana ETFs reached $533.43 million as of November 13. This figure shows growth from $502.04 million on October 31.

The asset growth came despite the 32.3% price decline over the 30-day period.

The 13-day positive inflow streak is one of the longest runs since the Solana ETF launch. The pattern contrasts with the volatility seen in Bitcoin and Ethereum ETF flows.

Trading volumes for Solana ETFs remain lower than their Bitcoin and Ethereum counterparts. The $52.62 million in daily traded value on November 13 compares to $6.53 billion for Bitcoin ETFs and $2.54 billion for Ethereum ETFs.