The novelty of solana ETFs attracts investors.
If the trend remains strong, it would positively impact the price of SOL.
Solana-based exchange-traded funds (ETFs) (SOL) have maintained a strong performance in their first week of trading on Wall Street, recording net capital inflows worth a cumulative $284 million.
This positive flow is in direct contrast to the bitcoin (BTC) and ether (ETH) ETFs, which have experienced a significant capital exodus for five consecutive days.
Leading this performance is the Bitwise Solana Staking ETF (BSOL), which, since its successful launch as reported by CriptoNoticias, has raised $275 million. For its part, the Grayscale Solana Trust (GSOL) has reported inflows of $8.8 million, an amount significantly less than its competitor.
The graph below shows, day by day, how capital flows have been from or to the solana ETFs.
This initial interest from investors is due to the novelty that these investment vehicles represent in the traditional financial market, offering a regulated and accessible avenue to gain exposure to the SOL digital asset, which captures attention from a broad spectrum of capital.
Although SOL price has not reflected an immediate impact due to the positive performance of the ETFs, if this capital accumulation trend continues and strengthens in the coming weeks, it could generate considerable bullish momentum in the valuation of the underlying digital asset.
In contrast to SOL’s good start, bitcoin and ether ETFs are going through a period of strong withdrawals. BTC exchange-traded funds have accumulated an exodus of money reaching 1.9 billion of dollars this week, while ETH’s are at 700 million of dollars.