Capital inflows into Solana exchange-traded funds hit a record
The largest inflow was recorded by BSOL, a fund managed by Bitwise, which attracted $20.8 million. It was followed by GSOL from Grayscale with $976,370, and FSOL from Fidelity with $1.7 million. All three ETFs are traded on the New York Stock Exchange (NYSE).
Net inflows into these funds were observed amid Bitcoin rising to $97,000. Over the past week, Solana has gained 8% and is currently trading at $145, with a market capitalization of $81.9 billion.
Market analyst Bitget Wallet Lacie Zhang believes that investments in Solana ETFs could create momentum for further growth of the altcoin and push it toward $150. Sustained demand for SOL ETFs, she added, would indicate growing confidence among large investors in the strength of the Solana ecosystem.
However, chief analyst at CEX.IO Ilya Otychenko argues that demand for SOL ETFs alone will not be sufficient to drive the token to significantly higher price levels. According to him, the total net assets of Solana ETFs account for only about 1.5% of SOL’s market capitalization, while daily trading volume of ETF shares is less than 1% of the total spot trading volume of the cryptocurrency.
Recently, Bitwise received approval from the U.S. regulator to launch an ETF linked to Chainlink (LINK). Earlier, Bits.media reported on new spot ETFs for altcoins in the United States and the reasons behind the emergence of these investment products.
See also: "How much profit did a $1,000 investment in Bitcoin at the start of the year generate"
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