Bitwise Solana ETF Sees Steady Demand as Bitcoin, Ethereum Funds Shed Assets

The Bitwise Solana Staking ETF, which launched on October 28, has attracted significant investor interest, amassing over $545 million in net inflows, including $223 million from seed investments. In contrast, Bitcoin ETFs have seen a loss of more than $2.1 billion in assets since the launch of the Solana ETF, while Ethereum funds have lost $579 million. Despite Solana's price decline by about 29% within the past month, the ETF recorded a robust performance with more than $126 million in inflows during its first week alone. Bitwise CEO Hunter Horsley emphasized consistent daily inflows since the ETF's debut, highlighting the desire for exposure to Solana. The successful launch comes amid market-wide pressures, including economic uncertainties. Analysts note Solana's strong market presence, suggesting ETFs related to it could grow further, possibly representing 5% of Solana’s market cap. With an active regulatory landscape, additional altcoin-focused funds may soon follow the trend seen with the Bitwise and Grayscale Solana ETFs.

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