Solana ETFs Post Second-Biggest November Inflows as Demand Grows During Downturn

U.S. spot solana (SOL) exchange-traded funds (ETFs) extended their inflow streak to a 17th straight day on Wednesday, with no net withdrawals since they first started trading Oct. 28.

The funds added $48.5 million on Wednesday, taking cumulative net inflows since inception to $476 million, according to Farside data. Wednesday’s inflow was the second-largest this month.

The stream of inflows, the longest uninterrupted run of positive flows among the crypto ETFs this year, comes as the more established bitcoin (BTC) and ether (ETH) products are shedding support.

In November alone, bitcoin ETFs have experienced net outflows of approximately $2.96 billion, while ether ETFs recorded about $107 million, Farside data shows.

Bitwise’s BSOL led Wednesday’s inflows with $35.9 million in fresh money, followed by Grayscale’s GSOL at $12.6 million. Fidelity (FSOL) and VanEck (VSOL) added smaller amounts.

The flows into solana ETFs indicate a drive for more exposure to the token even as the crypto market weakens. The CoinDesk 20 Index (CD20) has dropped 12% in the past seven days.