Despite large-scale redemptions in BTC and ETH ETFs, SOL attracted $369 million in inflows this month, reflecting investors increasingly positioning SOL as a yield-generating asset.
Everstake co-founder and COO Bohdan Opryshko pointed out that both institutional and retail investors "view SOL as a yield-generating asset rather than a speculative trading object."
He told Cointelegraph that the native staking rewards of 5%–7% for SOL create an appeal unmatched by BTC ETFs, with only a few Ethereum products currently offering similar returns.
According to SoSoValue data, from November 3 to November 24, the net redemption amount for BTC ETFs reached $3.7 billion, while ETH ETFs lost $1.64 billion. During the same period, SOL staking ETFs attracted $369 million in new inflows. Opryshko emphasized that this "is not just a phenomenon of capital rotation," but reflects a clear increase in market preference for yield-oriented investment exposure.
Although SOL's trading price fluctuated between $100 and $260 this year, the total staking volume on the network grew from 350 million to 407 million. From October 30 to November 24, the number of retail delegators increased from 191,179 to 194,157, accumulating over 238,000 SOL during the market downturn.
Large whale delegators chose to consolidate rather than exit the market; although their numbers have decreased, the total staking volume remains stable. Opryshko revealed that Trezor users alone staked over 1 million SOL through Everstake this month.
"This indicates that after the approval of ETFs, crypto investment is diverging into speculative assets (trading for appreciation) and productive assets (staking for income)," Opryshko further explained, noting that for an increasing number of participants in the market, "staking yields have become a primary driver of capital allocation—though not the only factor, its importance is becoming more pronounced."
According to Coinbase data, 67% of circulating SOL is currently staked. Trezor's head of business development and partnerships, Sebastien Gilquin, mentioned that SOL "has established one of the strongest staking profiles among major proof-of-stake blockchains."
Gilquin stated that as traditional yields tighten, institutional investors are gradually turning to productive assets. The SOL foundational ETF attracted over $420 million in funds during its first week of issuance last month, highlighting the strong market demand for products that can provide native staking returns and liquidity.
"At the same time, data shows that retail delegators are becoming more long-term oriented, with the average delegation term steadily extending into 2025, and even during market volatility, participation enthusiasm remains strong," he added.
Related: Solana (SOL) rebounds alongside the broader crypto market: Is $160 possible?
Original article: “Solana (SOL) ETF attracts $369 million in November, investors favor yield-generating assets”
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