Solana ETFs Hit a Weekly High as Altcoin Deposits Surge
Solana ETFs have seen a rebound in inflows, recently adding $6.7 million and reaching a total of $689.8 million in assets under management. Funds in this category include products from Bitwise, VanEck, Fidelity, 21Shares, Franklin, and Grayscale. While ETF inflows can lag behind market prices, particularly for newer funds, Solana ETFs have proven resilient, continuing to attract capital even amid recent price declines—SOL dropped 3.6% in the past day and 5.6% over the past month, now trading at $122.74. Unlike Bitcoin and Ethereum, which experienced a combined $1.6 billion in outflows, Solana funds attracted $17 million last week and over $11 million so far this week, reflecting investor confidence. However, market sentiment has shifted, with users now betting that silver is more likely than Solana to reach $150 first, as silver prices surged 23.8% in the past week. Other altcoins, such as LINK, SHIB, AXS, AAVE, and UNI, have also seen increased activity, signaling robust network and exchange participation despite volatile crypto prices.
