Українська
Русский
English
Solana Price Remains Flat Despite $69.5M Inflow Into ETF
The launch of the Bitwise Solana Staking ETF (BSOL) attracted $69.5 million in inflows on its first trading day, yet Solana’s (SOL) price remained virtually unchanged.
On October 28, the U.S. saw the debut of its first Solana-based exchange-traded fund, which quickly gained traction.
According to ETF analyst Eric Balchunas, the fund’s capital inflows boosted its total assets under management (AUM) to $106.6 million.
BSOL outperformed competing crypto ETFs, including the Canary HBAR ETF (HBR) and Canary Litecoin ETF, which saw inflows of $8 million and $1 million, respectively.
Analysts attribute this success to two key factors:
first, Solana’s higher market capitalization compared to its rivals;
and second, BSOL’s staking feature, which provides investors with a 4.72% passive yield, as the underlying SOL tokens are staked to generate rewards.
Despite the strong investor demand, SOL’s price slipped by 0.05% in the past 24 hours.
The limited price reaction likely reflects the relatively small inflow — just 0.065% of Solana’s $106.75 billion total market capitalization.
Still, in the long run, growing institutional and retail interest in BSOL could support upward momentum for Solana’s price.
See also: "Bitcoin Price Today: Drop to $110K After Trump–Xi Meeting"
