The perfect record of the Solana ETF comes to an end, with $34 million in outflows from 21Shares' TSOL.

CN
1 hour ago

According to data from ETF data provider SoSoValue, the U.S. spot Solana exchange-traded fund (ETF) broke its perfect inflow record on Wednesday, recording a net outflow of $8.1 million, marking the first day of losses since its launch.

This pullback was primarily driven by a single ETF product, the 21Shares Solana ETF (TSOL), which saw over $34 million in outflows. Since its launch, the ETF has accumulated a net outflow of $26 million, with net assets totaling $86 million.

The remaining SOL ETFs performed well, absorbing most of the outflow from TSOL. The Bitwise Solana Staking ETF (BSOL) continued to dominate, with a single-day inflow of $13.33 million, bringing its total inflow to $527.79 million.

Grayscale Solana Trust (GSOL) also had a positive day, with an inflow of $10.42 million, while the Fidelity Solana Fund (FSOL) recorded an inflow of $2.51 million. Data from Solana Strategic Reserve shows that SOL ETFs hold approximately 6.83 million Solana tokens, valued at around $964 million.

While the Solana ETF broke its perfect record, the newly launched XRP ETF products have yet to experience a day of outflows. SoSoValue data indicates that the XRP ETF has only recorded daily inflows, with a total net inflow of $643 million.

On Wednesday, the Bitwise XRP ETF (XRP) led with an inflow of $7.4 million, followed closely by Canary's XRPC ETF with an inflow of $5.2 million. Franklin Templeton's XRPZ and Grayscale's GXRP saw similar inflows of about $4 million.

Meanwhile, the highly anticipated Dogecoin (DOGE) ETF, which holds top meme coins, has performed poorly since its launch.

On Monday, the New York Stock Exchange (NYSE) approved the listing of the Grayscale Dogecoin Trust ETF (GDOG). Bloomberg ETF analyst Eric Balchunas predicted that GDOG would see first-day performance of around $11 million. However, the asset fell short of expectations.

On its first day, the GDOG ETF generated only $1.4 million in trading volume, far below analysts' expectations. The ETF analyst stated that this was "solid" for an average launch but relatively low for a first spot product.

According to SoSoValue data, the GDOG ETF recorded a net inflow of $1.8 million on Tuesday. Although the inflow was already low, it dropped to just $365,000 on the second trading day, an 80% decrease.

Related: 2026 U.S. GDP forecast growth of 2.4%, is Bitcoin being leveraged by ETFs to trigger a bull market or is it sinking into a deep pit?

Original article: “Solana ETF's perfect record ends, 21Shares' TSOL sees $34 million outflow”

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