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

The Bitwise Solana Staking ETF (BSOL), launched on October 28, has quickly garnered substantial interest, amassing over $545 million in net inflows, including $223 million in seed investments. This surge occurs while spot Bitcoin ETFs have lost more than $2.1 billion since the launch, and Ethereum funds have seen net outflows totaling $579 million. Despite a 29% drop in Solana's price over the past month, investors show a strong appetite for the Solana-tracking ETF. Bitwise CEO Hunter Horsley confirmed continuous daily inflows, emphasizing investor demand for Solana exposure. Analyst Sumit Roy highlighted the token's significant market value of $90 billion, suggesting that the inflows for Solana could account for at least 5% of its market cap. In contrast, Bitcoin recently dipped below $100,000 for the second time within a week, indicative of a broader market correction. Furthermore, the regulatory landscape remains dynamic with potential new crypto ETF launches, including a Dogecoin ETF by Bitwise, which reflects ongoing interest in altcoin investments despite recent market volatility.

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