Spot Solana exchange-traded funds (ETFs) proceed to draw investor curiosity, recording their fourth straight day of inflows amid “capital rotation” from Bitcoin and Ether funds.
In response to data from SoSoValue, spot Solana (SOL) ETFs added $44.48 million on Friday, bringing cumulative inflows to $199.2 million and complete belongings to over $502 million. The Bitwise Solana ETF (BSOL) led the cost, contributing the majority of latest capital with a 4.99% every day achieve.
In distinction, spot Bitcoin (BTC) ETFs noticed $191.6 million in every day internet outflows on the identical day, persevering with a week-long development of profit-taking. The funds noticed $488.43 million in outflows on Thursday and $470.71 million the day gone by.
Spot Ether (ETH) ETFs additionally posted $98.2 million in outflows, lowering their cumulative inflows to $14.37 billion. The funds shed $184.3 million on Thursday and $81.4 million on Wednesday.
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Solana ETFs achieve momentum
The shift towards Solana ETFs comes amid what market contributors describe as a “capital rotation.” Vincent Liu, chief funding officer at Kronos Analysis, informed Cointelegraph that the development highlights a rising urge for food for brand new narratives and staking-driven yield alternatives.
“Solana ETFs are surging on contemporary catalysts and capital rotation, as Bitcoin and Ether see profit-taking after robust runs,” Liu mentioned. “The shift alerts rising urge for food for brand new narratives and staking-driven yield alternatives.”
Analysts recommend Solana’s momentum may proceed into subsequent week as Bitcoin and Ether consolidate. “Solana momentum could lengthen subsequent week, with rotation staying alive whereas majors pause, except macro information sparks excessive volatility,” Liu added.
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New crypto ETFs enter markets
A brand new wave of crypto ETFs is hitting the market this week, led by Bitwise’s Solana Staking ETF (BSOL), which launched Tuesday with $222.8 million in belongings and gives buyers publicity to Solana (SOL) with an estimated 7% staking yield.
A number of different funds are also entering the market, together with Canary’s Litecoin (LTC) and Hedera (HBAR) ETFs, together with the anticipated conversion of Grayscale’s Solana Belief into an ETF. In the meantime, Hong Kong approved its first spot Solana ETF final week.
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