Van Eck’s BTC ETF Marks 2nd Biggest Sale As Its SOL ETF (VSOL) Goes Live

Van Eck’s Bitcoin (BTC) spot exchange-traded fund (ETF), trading under the ironic ticker ‘HODL’, sold around 247 BTC ($23.3 million) on Monday.

The asset manager debuted its Solana (SOL) Spot ETF (Ticker: VSOL) on Tuesday, November 18, on Nasdaq. SOL Spot ETFs and Canary’s XRP ETF reflected net inflows on Monday, while their BTC and ETH counterparts continued to report net outflows. Several new crypto ETFs are scheduled to launch in the near future, sparking discussions about a fundamental restructuring of the crypto market.

BTC Spot ETFs Bled on Monday, Van Eck Marks its 2nd Biggest BTC Sell-off

BTC Spot ETFs reported net outflows of $254.6 million on Monday, according to Coinglass. Sell-offs were concentrated in BlackRock (IBIT), which sold 1550 BTC ($145.6 million).

The sell-off occurred as the market watched BTC fall below the $90,000 mark, which had been hailed as a key support zone. Intraday liquidations surpassed the $1 billion mark yesterday, while BTC’s market cap dipped below the $2 trillion mark.

Van Eck’s largest BTC sell-off was reported last year on July 22, when it sold BTC worth $38.4 million.

The asset manager holds approximately 18,192.472 BTC as of November 17, 2025, according to the Van Eck Bitcoin ETF’s official website. It holds roughly $1.7 billion in assets under management (AUM).

Van Eck presently sponsors three crypto ETFs: its bitcoin ETF ‘HODL’, Van Eck Ethereum ETF (ETHV), and the Van Eck Solana Trust ETF (VSOL). All three ETFs are spot ETFs, that is, they track the price of the asset in focus.

Its ETH ETF (ETHE) has approximately $185.5 million in AUM. VSOL’s AUM of $6.7 million makes it Van Eck’s smallest crypto Spot ETF so far.

Altcoin ETFs Reflect Optimism Despite Bleak Price Charts, Uncertain Market

SOL Spot ETFs’ perfect streak of net inflows entered the third week after reporting net inflows of $8.2 million for Monday. Canary Capital’s XRP Spot ETF (XRPC) marked net inflows ($25.4 million) on its second day.

More altcoin ETFs are expected to launch this week, including Fidelity’s Solana ETF (FSOL), which will go live on Wednesday. Bloomberg’s senior ETF analyst, Eric Balchunas, pointed out that Fidelity would become the largest SOL ETF after Bitwise. Notably, BlackRock chose to ‘sitting out’ of the SOL ETF market, the analyst noted. Big names like Fidelity and BlackRock can flip flows single-handedly.

Another crypto ETF scheduled to launch on Wednesday is the Solana ETF (Ticker: SOLC), according to Bloomberg senior ETF analyst James Seyffart. SOLC was proposed by Canary Capital, with Marinade Finance providing staking services. The Bitwise SOL ETF’s staking provider is Helius. while SOL Strategies is the staking provider for VSOL.

Our Monday SOL price analysis highlighted the sharp market uncertainty for the smart-contract-focused protocol. Solana price was hovering near the $137 mark, slightly above the critical level at $135.

As we previously reported, analysts are evenly divided between the two sides. One camp argued that SOL was poised for a solid surge, while the other camp argued the crypto had reached a cycle top.

At the time of writing, the 1-day chart showed strong bearish pressure, with the token trading below its 200 SMA.

XRP showed a similar bleak picture at press time. The payments-focused token was down 4.25% intraday and down 11.6% over the week.