Solana ETFs Extend Inflow Streak to 12 Weeks as Bitcoin Volume Hits Record Lows

Solana spot ETFs have maintained a 12-week streak of net inflows, bringing the total assets under management for the category to approximately $1.62 billion. The week ending September 18 saw $60.7 million in net inflows, with $47.6 million of that total arriving on the final trading day.

Bitwise's BSOL, which offers staking rewards to holders, has accounted for roughly 80% of the total inflows into Solana ETFs. The product's ability to provide both price exposure and an income stream has given it a structural advantage over other offerings from Grayscale, Fidelity, VanEck, and Morgan Stanley.

In contrast, Bitcoin spot ETFs have seen a significant slowdown. Weekly net inflows for the category reached only $6.1 million, and trading volume fell to its lowest level for a full five-session week since October 2024.

The divergence in momentum is notable given the scale of the two markets. While the $1.62 billion in Solana ETF assets remains small compared to the broader Bitcoin ETF market, the speed of accumulation has been faster than many expected. It took Bitcoin ETFs significantly longer after their January 2024 launch to achieve a similar streak of inflows.

Solana has traded between $110 and $112 in mid-September, marking its highest price level in about seven months. The concentration of flows into a single staking-focused product suggests that other issuers may need to adjust their strategies to remain competitive in the Solana ETF space.