Key Highlights
- Solana ETFs saw their first daily outflow of $8.1M, but cumulative inflows remain strong at $613M as total assets near $918M.
- Bitwise and Grayscale led Solana fund inflows, while 21Shares faced a $34M outflow, showing selective investor interest across products.
- Franklin Templeton’s low-fee Solana ETF joins the growing market as SEC guidance accelerates approvals for crypto-focused ETFs.
The US-based Solana-linked exchange-traded funds (ETFs) have recorded their first net outflow since launching. According to Sosovalue data, daily total net inflow for Solana-focused investment products fell to –$8.10 million on November 26.
This marks the first time more money left Solana ETFs than entered on a single day. Despite this, cumulative total net inflows since launch remain robust at $613.22 million, with total assets rising steadily to $917.99 million. Total trading volume for the day reached $50.61 million, representing 1.15% of Solana’s market capitalization.
Bitwise’s SOL fund (BSOL) led inflows with the NYSE-listed fund accumulating $13.33 million, adding 93,170 SOL. Its cumulative inflows reached $527.79 million, with net assets totaling $631.20 million. Grayscale’s SOL fund also reported positive inflows of $10.42 million and added 72,840 SOL. Its net assets stands at $148.28 million.
At the time of publishing, SOL was trading near $141, up 3.8% for the day, with $5.29 billion in total trading volume, as per CoinMarketCap data.
Substantial Outflows in Other Funds
Not every Solana fund saw money coming in. The 21Shares SOL product on CBOE lost $34.37 million in a single day, bringing its total inflows into negative territory at $26.22 million. Despite this, the fund’s price still rose 3.92%, showing that outflows didn’t stop its value from climbing.
Fidelity’s SOL fund added $2.51 million for the day, increasing cumulative inflows to $29.89 million. Its net assets reached $34.74 million, with a 3.84% price gain. VanEck and Canary NASDAQ products recorded no daily inflows, keeping cumulative totals stable at $8.02 million and $244,740, respectively.
The daily net outflow on November 26 is easily singled out in the data. Green bars show consistent inflows on most days, with spikes between $40 million and $70 million, particularly on November 19 and November 23. The white line tracking total net assets climbed steadily from around $300 million in late October to nearly $918 million by November 26.
On the other hand, Bitcoin and Ethereum had a mixed performance. According to on-chain analytics platform Lookonchain, in an update shared on X, Bitcoin ETFs saw a positive daily net inflow of 1,915 BTC, equivalent to $165.78 million. However, despite the daily strength, the 7-day net flow remained negative at 5,368 BTC, or –$464.82 million.
Ethereum ETFs recorded robust inflows, as investors injected 33,185 ETH into the funds, approximately $96.57 million. During the week, the funds have witnessed a minor net outflow of 415 ETH, or about $1.21 million, indicating slightly weaker weekly demand.
Franklin Templeton Enters With Aggressive ETF Offer
Meanwhile, Franklin Templeton has positioned itself as a key competitor in the Solana ETF market. The firm filed its spot Solana ETF prospectus with the U.S. Securities and Exchange Commission and unveiled the lowest fees in the sector.
The ETF carries a 0.19% fee and waives all fees on the first $5 billion of assets until May 31, 2026. Any operational costs, such as Solana network fees, will be handled by Authorized Participants. This launch comes amid a broader wave of Solana ETF releases. Bitwise listed the first U.S. spot Solana ETF in late October, followed by Fidelity and VanEck in mid-November.
The ETF push coincides with SEC guidance allowing automatic effectiveness under Section 8(a), accelerating approvals. Bloomberg ETF analyst Eric Balchunas noted, “Some of those crypto ETFs that didn’t do the 8-A thing will try and push out as soon as they can,” highlighting upcoming products such as Bitwise’s XRP ETF.
Solana ETFs are seeing steady interest, but daily inflows and outflows remain unpredictable. The first outflow day shows that investors are making selective moves while Franklin Templeton’s new ETF may influence how funds compete in the market.
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