- Solana ETFs have raised around $1.45 billion net since their launch despite a price decline of around 57%.
- The US spot Bitcoin ETFs have also recently shown stronger momentum again.
The American spot Solana ETFs have seen notable net inflows since their launch in July despite a sharp price decline and are even “bigger” than early US spot Bitcoin ETF flows in terms of Solana’s market size.
Solana ETFs are off to a relatively better start than Bitcoin
Bloombergs Senior-ETF-Analyst Eric Balchunas shared the data on Thursday via X. He explained that the Solana price has lost around 57% since the ETF launch in July, but the products are still attracting capital. In a post he wrote:
“Solana has been 57% in the red since the spot ETFs were launched in July – that’s something like maximum bad luck in terms of timing in ETFs – and yet they have not only collected 1.5 billion US dollars in inflows, but have also given away hardly any of it. In addition, 50% of the assets come from 13F reporters – i.e. a serious group of investors. In my opinion, both are good signals for the future.”
The Bloomberg Intelligence chart he shared shows cumulative Solana ETF inflows standing at $1.45 billion as of March 2, 2026. At the end of October 2025, the value was still at 0.41 billion US dollars – so the majority of the build-up took place later over time.
But one thing is particularly striking for Balchunas: If you convert the inflows to Solana’s market capitalization, that would correspond to a significantly larger dollar amount for Bitcoin:
“If we adjust these flows for the size of Solana compared to Bitcoin market cap, that equates to $54 billion in net new inflows – about twice as much as Bitcoin at the same time.”
Bitcoin ETFs see possible trend reversal
In parallel, Balchunas explained on X yesterday that Bitcoin ETFs are also currently seeing strong momentum. Overall, all ETFs received inflows approaching half a billion dollars on Wednesday, with 10 of the 11 ETFs seeing inflows.
To be precise, it was $461.77 million. On a weekly basis, inflows total +1.372 billion US dollars. On a monthly basis they are +1.194 billion US dollars. Since the beginning of the year there is still a loss of 646.40 million US dollars.
The main driver on Wednesday was BlackRock’s IBIT with +$306.58 million on the day and +$1.135 billion on the week. In contrast, Fidelity’s FBTC is at +$48.01 million on the day, but a YTD value of -$1.066 billion.
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