On November 6, U.S. spot Bitcoin and Ethereum ETFs ended a six-day streak of capital outflows, registering their first day of net inflows in nearly a week. According to data from SoSoValue, Bitcoin ETFs welcomed $240.03 million in new investments over the past 24 hours, while Ethereum ETFs attracted $12.51 million. In contrast, Solana ETFs have shown remarkable resilience throughout this challenging period by bringing in $29.22 million in daily inflows, marking eight consecutive days of positive capital movement amid struggles faced by major digital-asset ETFs.
Solana ETFs launched with an initial investment of approximately $70 million on their debut day and accumulated around $531 million in net assets within the first week. While these figures are modest compared to the $1.5 billion and $1.17 billion observed for Bitcoin and Ethereum ETFs, respectively, they represent a strong showing for a newcomer navigating a fluctuating market landscape.
Despite the overall market volatility, Solana’s ETFs have maintained consistent daily inflows ranging between $37 million and $70 million through much of the week, experiencing only a slight dip to about $9.7 million by the seventh day. This trend underscores a noteworthy shift in investor sentiment, especially considering the simultaneous struggles faced by Bitcoin and Ethereum during this period.
Recent data reveals that between October 29 and November 4, Bitcoin ETFs experienced a cumulative outflow of around $2 billion. The highest single-day outflow took place on November 4, with $577.74 million departing the funds. Ethereum ETFs mirrored this pattern, facing an approximate loss of $837.66 million in the same timeframe. The contrasting inflow into Solana ETFs, set against the backdrop of Bitcoin and Ethereum’s significant withdrawals, highlights a pivotal shift in investor focus.
While Bitcoin and Ethereum ETFs saw a resurgence of positive flows in recent trading, investors remain optimistic that this trend will sustain. However, Solana ETFs are still in their infancy and have considerable ground to cover before they achieve liquidity levels comparable to Bitcoin and Ethereum products.
As of the latest figures, Bitcoin is trading at $101,482, reflecting a 1.6% decrease in the past 24 hours, while Ethereum is at $3,336, down 1.2% over the same period. Notably, Solana’s ETF inflows have not yet translated to a price increase, with the cryptocurrency experiencing a drop of 1.4% and 15.3% over the past 24 hours and seven days, respectively, currently trading at $157.
