Explore the latest developments concerning Solana ETF race.
Solana ETF race heats up as 21Shares joins Fidelity, Bitwise and others in launching SOL fund
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Exchange-traded fund investing firm 21Shares is next up to the plate in launching its ETF tracking Solana.
On Wednesday morning, the firm debuted the 21Shares Solana ETF, with the ticker symbol TSOL on the Chicago Board Options Exchange, or CBOE.
"It's undeniable that crypto is here to stay and we believe it will play a massive role in the future of the financial system. It's encouraging to see regulatory frameworks shift to allow investors around the world and in the U.S. to gain transparent exposure to the crypto asset class," said Federico Brokate, global head of business development at 21shares, in a statement.
SOL ETF News: 17-Day Inflow Streak Signals Demand for the Solana Token
U.S. spot solana SOL$130.80 exchange-traded funds (ETFs) extended their inflow streak to a 17th straight day on Wednesday, with no net withdrawals since they first started trading Oct. 28.
The funds added $48.5 million on Wednesday, taking cumulative net inflows since inception to $476 million, according to Farside data. Wednesday's inflow was the second-largest this month.
The stream of inflows, the longest uninterrupted run of positive flows among the crypto ETFs this year, comes as the more established bitcoin BTC$85,533.71 and ether ETH$2,788.90 products are shedding support.
In November alone, bitcoin ETFs have experienced net outflows of approximately $2.96 billion, while ether ETFs recorded about $107 million, Farside data shows.
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XRP and Solana ETFs thrive as over $4B in Bitcoin and Ethereum exits the market
New altcoin ETFs outshine Bitcoin and Ethereum with record inflows amidst traditional finance skepticism.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
A sharp divergence emerged in the crypto ETF market this month.
According to SoSo Value data, the new products tracking Solana and XRP are attracting significant capital, contrasting with a severe wave of outflows from established Bitcoin and Ethereum funds.
The data shows that the newly launched altcoin ETFs have registered more than $500 million in combined inflows in less than a month.
These inflows highlight growing investor interest in assets beyond the market leaders.
For more detailed information, explore updates concerning Solana ETF race.