Spot Solana ETFs Record First Outflow Since U.S. Market Debut
Spot Solana ETFs posted their first outflow since launch, with $8.10 million redeemed in the U.S. as SOL traded higher near $141 during Wednesday’s session.
U.S.-listed spot Solana exchange-traded funds recorded their first day of net outflows on Wednesday, ending a three-week run of steady inflows that began when the products launched.
Approximately $8.10 million exited the funds, according to issuer-reported flow data.
The decline was driven mainly by a $34.37 million redemption from 21Shares’ TSOL.
Meanwhile, other issuers saw new subscriptions: Bitwise’s BSOL added $13.33 million, and Grayscale’s GSOL gained $10.42 million, reducing the overall impact.
Solana’s price moved higher during the trading session, reaching around $141, up roughly 3.6% over 24 hours.
Combined assets held across the U.S. Solana ETFs total about $915 million, a small portion of Solana’s overall $79 billion market valuation but notable for products that have only recently entered the market.
Altcoin ETF Activity
The first day of redemptions follows 21 straight sessions of net inflows into Solana products.
Other crypto-linked ETFs showed mixed but active trading:
- XRP funds continued to post net inflows
- The newly launched Dogecoin ETF expanded to $6.48 million in assets
- The Litecoin ETF, trading since late October, has seen no redemptions but minimal growth since mid-November
The variation across issuers reflects distinct allocation patterns within the altcoin ETF segment.
Recent Performance
Solana’s price moved to about $141 during Wednesday’s session, but the monthly performance remains negative.
Data shows a decline of roughly 30% over the past 30 days, reversing a portion of gains from earlier in the year.
Even with the recent rise, Solana trades at less than half of its previous all-time high of $293.31 set in 2021.
On the prediction platform Myriad, users place a 92% probability that Solana will not revisit that record before the end of the year — indicating expectations for a slower recovery based on current pricing inputs.
Fund Mechanics During the First Outflow
The funds processed redemptions without pricing dislocation, and no divergence emerged between ETF share prices and the underlying SOL market.
Trading volume across listing venues remained consistent with recent averages, and settlement operations continued normally through authorized participants.
The flow activity showed the ETF structure functioning as intended during its first withdrawal event since launch.
Frequently Asked Questions
Also Read: Bonk ETP Launches on SIX Swiss Exchange via Bitcoin Capital
