Solana ETF Interest Rise amid Market Downslide: Key Performance Update

Solana spot exchange-traded funds (ETFs) have recorded net inflows totaling approximately $270 million in their first seven trading days since launching on October 28, 2025, even as the underlying SOL token price fell nearly 20% to $158 at the time of writing. 

These products, which include the Bitwise Solana Staking ETF (BSOL), Grayscale Solana Trust (GSOL), and the Amplify Solana 3% Monthly Option Income ETF (SOLM), have built assets under management (AUM) exceeding $502 million, contrasting with outflows seen in Bitcoin and Ethereum ETFs during the same period. 

This performance reflects institutional interest in Solana's layer-1 blockchain, known for its transaction speed and low fees, amid a broader market rotation away from dominant cryptocurrencies.

Launch and Initial Trading Activity

The U.S. introduction of Solana ETFs marked an expansion of regulated investment vehicles for digital assets, following approvals for similar products tied to Bitcoin and Ethereum. On launch day, October 28, 2025, the ETFs collectively drew $69.5 million in net inflows, with BSOL accounting for $69.45 million of that total. 

BSOL, listed on the New York Stock Exchange, posted $56 million in first-day trading volume, setting a record for the strongest ETF debut across all categories in 2025. This volume underscores demand for Solana exposure, particularly through funds that incorporate staking to generate yields.

Staking integration distinguishes BSOL, which allocates 100% of its holdings to SOL tokens and uses staking to provide an average annual yield of about 7%. Staking involves locking tokens to support network validation and earning rewards, which the ETF passes on to shareholders after fees. 

GSOL, managed by Grayscale Investments, operates as a trust that provides direct SOL exposure without staking. However, it recently waived sponsor fees to 0% for up to 3 months or until it reaches $1 billion in AUM to attract more capital. SOLM, launched by Amplify ETFs on November 4, 2025, adds an options strategy aiming for 3% monthly income alongside Solana price tracking.

Trading Activity

Over the subsequent days, inflows continued steadily. From October 29 to 31, cumulative inflows across products totaled $127.7 million, bringing the four-day total to $199.2 million. 

November 3 saw $70 million in net inflows, the highest single-day figure since launch, split among BSOL and GSOL. On November 4, inflows amounted to $37.3 million, with BSOL contributing $36.5 million and GSOL adding $0.8 million, coinciding with SOLM's debut. November 5 brought $9.7 million more, including $7.5 million for BSOL and $2.2 million for GSOL, marking seven consecutive days of positive flows.

Weekly inflows for Solana ETFs totaled $89.9 million, outpacing Bitcoin's $16.2 million and Ethereum's $57.6 million during the same timeframe. In contrast, Bitcoin ETFs recorded $137 million in outflows on November 5 alone, while Ethereum ETFs saw $118.5 million in outflows. Combined outflows for Bitcoin and Ethereum products recently approached $800 million, highlighting a shift toward alternatives such as Solana.

Factors Driving Inflows Amid Price Volatility

Despite SOL's price dropping below $180 and entering bear-market territory amid broader crypto market conditions, ETF inflows have remained positive. Several reports have pointed to capital rotation into high-performance layer-1 networks, where Solana offers transaction throughput exceeding 2,000 per second and fees often below $0.01 per transaction. The blockchain's Decentralized Finance (DeFi) total value locked (TVL) exceeds $10 billion, with stablecoin marketcap nearing $15 billion, supporting ecosystem utility.

BSOL alone amassed over $417 million in its first week, including seed capital, demonstrating appeal to institutional investors seeking yield through staking. Inflows represent purchases of ETF shares, which issuers convert into SOL holdings, indirectly increasing token demand. 

Bitwise's chief investment officer noted that persistent inflows during price dips suggest exhausted selling pressure and potential market bottoms. International Solana-linked products provide context: a Canadian ETF reached $90 million in AUM within 2 days, and global inflows hit $145 million per day in September 2025, elevating total AUM to $4.1 billion.

Projections from Grayscale executives estimate U.S. Solana ETFs could attract up to $5 billion in inflows, potentially absorbing a notable portion of SOL's circulating supply. This could influence tokenomics by reducing the trading supply, though the impact depends on market dynamics. 

Conclusion

Solana ETFs have demonstrated consistent net inflows and AUM growth of more than $502 million in their initial week, driven by features such as staking yields, amid outflows from Bitcoin and Ethereum products. Key announcements from issuers such as Bitwise, Grayscale, and Amplify highlight product structures aimed at yield and income, while broader indicators point to institutional rotation into Solana's efficient blockchain. 

Investors monitoring these funds should consider the volatility of the SOL price and ecosystem metrics such as DeFi TVL in their decision-making, as these factors underscore the role of regulated vehicles in digital asset exposure.

Sources: 

• Solana ETFs Launch amid Price Plunge: https://markets.financialcontent.com/stocks/article/breakingcrypto-2025-11-5-solana-etfs-launch-amidst-price-plunge-a-test-of-market-stability-and-institutional-conviction 
• Solana TVL: https://defillama.com/chain/solana 
• Farside Investors Solana ETF Flow: https://farside.co.uk/sol/ 
• Bitwise Solana Staking ETP (BSOL): https://bitwiseinvestments.eu/products/bitwise-solana-staking-etp/ 
• Grayscale Solana Trust ETF (GSOL): https://etfs.grayscale.com/gsol