Introduced on the 28 of October, Solana ETFs attracted $284 million within six trading days. During the same time, the outflows of Bitcoin ETFs amounted to 1.7 billion and Ethereum to 473 million. This was at the period when macro head winds (hawkish Fed signals and a stronger dollar) were increasing yet Solana inflows did not waver.
Hype Rotation or Hype Launch?
This has been viewed as allocator rotation by some and others have cited it to be normal ETF launch enthusiasm. Nevertheless, CoinShares and Farside data also prove the steady inflows of both Grayscale and Bitwise Solana products. At the same time, Bitcoin and Ethereum funds had single-day outflows of up to $797 million as of Nov. 4.
A Demand Sustainability Test of ETFs.
When Solana keeps generating consistent creations following its seed capital stage, the switch would change ETF allocations of assets. At least, BSOL made overtures to the IBIT of BlackRock in weekly flows. That is not merely launch buzz- that is new requirements making space to expose to SOL early.
What Happens Next?
When Solana productions keep being made as Bitcoin and Ethereum drain outs, then it is possible that the market is undergoing a structural change. However, with normal flows the timing can be everything. In any case, the ETFs are validating the distribution-led demand.
