The world of cryptocurrency continues to evolve, and this time, it’s Solana making the headlines. Solana’s Exchange-Traded Fund (ETF) has recorded an unprecedented achievement, attracting inflows for 21 consecutive days — a milestone no other crypto ETF has managed at launch, including Bitcoin and Ethereum.
What Happened with Solana’s ETF?
According to data from SoSoValue, Solana’s ETF streak began on October 28 and has made history by surpassing the previous best streak of 20 days achieved by Bitcoin and Ethereum ETFs. This achievement is even more remarkable considering the circumstances. While the ETF logged consistent daily inflows, the price of Solana (SOL) saw a significant decline, from $195 to $137 (about 29%) within the same time frame.
The Long-Term Perspective
This consistent pattern of inflows, despite price volatility, indicates a strong long-term conviction among institutional investors. Historically, periods of sharp price drawdowns have slowed ETF inflows; however, Solana’s ETF has defied this trend, showcasing its resilience. These inflows represent institutional investors averaging in on SOL, with an eye on its long-term potential rather than daily price movements.
How Does Solana Compare to Bitcoin and Ethereum ETFs?
While Solana’s ETF now holds 1.15% of the cryptocurrency’s market cap, it still lags behind Bitcoin and Ethereum ETFs, which currently account for 6.54% and 5.16%, respectively. However, analysts believe the strong showing of Solana’s ETF since launch might point to a new benchmark for early-stage ETF demand in the crypto space.
What’s Next for Solana?
If the inflow streak continues deeper into December, Solana could further cement its position as a leader in crypto ETFs. The big question remains: will Solana’s price catch up with its growing ETF momentum? For now, institutional investors appear to be taking a long-term view, building positions steadily regardless of short-term price fluctuations.
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