Spot Solana ETFs Experience First Outflow Since Launch
- Spot Solana ETFs saw outflows of $8.1 million on Wednesday, ending a streak of inflows over the past three weeks.
- The outflows were largely due to a $34.37 million redemption from the fund managed by 21Shares.
- Despite the outflows, Solana is currently trading at approximately $141, marking a rise of about 3.6% in the last day.
- Total assets in Solana ETFs are around $915 million, representing about 1.15% of Solana’s market cap.
- Solana’s performance over the past month shows a decline of about -30%, with its value down more than half from its peak of $293.31.
U.S.-based spot Solana exchange-traded funds recorded their first significant outflow since inception, primarily driven by substantial redemptions from major funds like those managed by 21Shares. This marks a shift as investors appear to be reallocating away from riskier “high-beta” assets towards those with perceived better structural adoption.
Despite recent gains in daily trading value, Solana’s overall monthly performance remains negative, reflecting broader market volatility and investor caution towards high-risk altcoins like Solana. (Source)
