Spot Solana exchange-traded funds (ETFs) continue to attract investor interest, recording a fourth straight day of inflows amid “capital rotation” of Bitcoin and Ether funds.
According to data from SoSoValue, Solana spot ETFs (SOL) added $44.48 million on Friday, bringing cumulative inflows to $199.2 million and total assets to over $502 million. The Bitwise Solana ETF (BSOL) led the pack, contributing most of the fresh capital with a daily gain of 4.99%.
In contrast, spot Bitcoin (BTC) ETFs saw $191.6 million in daily net outflows on the same day, continuing a weekly trend of profit-taking. On Thursday, $488.43 million flowed from the funds, and the previous day, $470.71 million.
Spot Ether ETFs (ETH) also saw outflows of $98.2 million, reducing their cumulative inflows to $14.37 billion. The funds lost $184.3 million on Thursday and $81.4 million on Wednesday.
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Solana ETFs are gaining momentum
The shift towards Solana ETFs comes as a result of what market participants refer to as “capital rotation.” Vincent Liu, chief investment officer at Kronos Research, told Cointelegraph that this trend highlights the growing appetite for fresh narratives and profit opportunities based on staking.
“Solana ETFs are gaining ground on fresh catalysts and capital rotation as Bitcoin and Ether see profit-taking after strong rallies,” Liu said. “This shift signals a growing appetite for new narratives and stakes-based profit opportunities.”
Analysts suggest Solana’s momentum could continue next week as Bitcoin and Ether consolidate. “Solana’s moment may extend next week and the rotation will remain lively while major bourses stall unless macro news triggers extreme volatility,” Liu added.
Related: ETFs will introduce institutions to altcoins, just like Bitcoin: Analyst
Up-to-date cryptocurrency ETFs are entering the markets
A fresh wave of cryptocurrency ETFs will hit the market this week, led by Bitwise’s Solana Staking ETF (BSOL), which launched on Tuesday with $222.8 million in assets and offers investors exposure to Solana (SOL) with an estimated staking yield of 7%.
Several other funds are also entering the market, including Canary’s Litecoin (LTC) and Hedera (HBAR) ETFs, along with the anticipated conversion of Grayscale’s Solana Trust into an ETF. Meanwhile, Hong Kong approved its first Solana spot ETF last week.
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