Solana (SOL) Price News: Bleeds Despite 'Very Solid' ETF Debut
Despite strong initial inflows into new Solana ETFs, SOL's price dropped nearly 20% since its launch.Summary
The debut of U.S. spot Solana ETFs saw strong investor demand, evidenced by $421 million in net weekly inflows—the second-highest on record for SOL products, according to CoinShares. However, this positive institutional activity was contradicted by the price action of SOL, which tumbled about 20% to $165 in the week following the launch, significantly underperforming Bitcoin and Ether. Analyst Vetle Lunde of K33 described the ETF launch as a "very solid" success. Most of the inflows, nearly $199 million, went to Bitwise’s Solana ETF (BSOL), which benefited from a lower 0.20% fee and first-mover advantage, making it the top-performing crypto ETF of the week. In contrast, Grayscale’s Solana Trust (GSOL) attracted only $2.2 million, partly due to its higher 0.35% fee.
(Source：CoinDesk)