Solana ETFs Saw Over $55m of Inflows, Ranking as Second-Highest Flow Day of the Month

The broader crypto market has seemingly fallen into a slump with sustained losses across the board for major pairs. Traders are getting used to choppy price action as the new normal. Despite this reality, institutional interest continues to build through Solana's spot ETFs.

Solana spot ETFs recorded net inflows of more than $55 million yesterday, November 19, marking the second-strongest day of inflows this month. Most of the capital went into Bitwise's $BSOL, which added about $36 million. Grayscale's $GSOL followed with nearly $13 million, while Fidelity's $FSOL saw $5 million in inflows.

These inflows extend Solana's streak to 16 consecutive days. Since their debut on October 28, Solana Spot ETFs have not recorded a single day of net outflows. The trend highlights growing interest in altcoin investment products even as market conditions remain uncertain.

Bitwise's Role in the Rebound Narrative

Bitwise has remained the leading driver of inflows throughout the month. Farside data from November 3 to November 19 shows that $BSOL accumulated $424 million. The strongest single day occurred on November 3, when Bitwise recorded $65.2 million out of a combined $70.1 million. Grayscale attracted the remaining $4.9 million on that day.

A possible factor in the appeal of $BSOL is its relatively low fee of 0.20%, making it the lowest among Solana Spot ETFs so far. Bitwise's dominance has shaped the rebound narrative, as investors appear to be using the current dip in Solana’s price to increase exposure. Hunter Horsley, CEO of Bitwise, notes that many investors consider the price weakness temporary and expect a recovery once broader sentiment improves.

Investor Behavior Amid Poor Price Performance

Solana’s price has declined more than 32% over the last 30 days, falling from around $200 to currently trading at close to $130. Even with the decline, ETF inflows show no sign of slowing.

Investors have continued adding exposure despite heightened volatility. These persistent inflows reduce circulating supply, which can strengthen the case for a price reaction once market conditions stabilize. The steady accumulation suggests that institutional participants view the underlying asset as a good long-term hold and see current prices as a bargain.

21Shares Launches $TSOL in an Expanding ETF Landscape

Institutional interest in Solana continues to grow beyond the largest issuers. 21Shares launched its spot Solana ETF, $TSOL, which now trades on Cboe with a 0.21% fee. The product also includes staking rewards, as with similar products before it, and launches with $100 million in initial Assets Under Management.

This addition further deepens the Solana ETF ecosystem, with 4 Solana Spot ETFs going live this week alone, bringing the total to 6 active products. Franklin Templeton remains the only major issuer yet to launch its Solana ETF. With more products entering the market, expect competition to increase while broader demand remains concentrated around the largest issuers.

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