Solana ETFs end perfect run as 21Shares’ TSOL sees $34M in outflows
Analysis
Price Impact
MedWhile the 21shares solana etf (tsol) experienced a significant $34 million outflow, causing solana etfs to record their first net outflow day, other major sol etf products like bitwise, grayscale, and fidelity continued to see substantial inflows. this suggests that while one product faced withdrawals, overall demand for solana exposure through etfs remains robust. in contrast, xrp etfs maintain a perfect streak of inflows, indicating strong investor interest, while dogecoin etfs have significantly underperformed expectations, reflecting weak demand.
Trustworthiness
HighThe analysis is based on specific, dated figures provided by reputable etf data providers such as sosovalue and reported by cointelegraph, detailing exact inflow/outflow amounts for various named etf products.
Price Direction
NeutralThe headline of solana etfs breaking their perfect inflow streak might induce short-term negative sentiment or profit-taking for sol. however, the offsetting strong inflows into other solana etfs indicate resilient underlying demand, likely preventing a significant or prolonged price downturn. xrp's consistent etf inflows paint a bullish picture for its price, while doge's underperforming etfs could exert bearish pressure.
Time Effect
ShortA single day of net outflows, especially when other products are performing well, is likely a short-term market fluctuation or rebalancing event rather than a long-term trend reversal for sol. the impact of xrp and doge etf performance will likely play out over a longer term as adoption trends become clearer.
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Ezra Reguerra 1 minute ago Solana ETFs end perfect run as 21Shares’ TSOL sees $34M in outflows The reversal was driven entirely by the 21Shares Solana ETF (TSOL), which saw over $34 million in withdrawals in a single day. Listen 0:00 14 News COINTELEGRAPH IN YOUR SOCIAL FEED US spot Solana exchange-traded funds (ETFs) broke their flawless inflow streak on Nov. 26 after recording $8.1 million in net outflows, their first day in the red since launch, according to ETF data provider SoSoValue. A single ETF product largely drove the pullback, the 21Shares Solana ETF (TSOL), which experienced over $34 million in outflows. The ETF has recorded cumulative net outflows of $26 million since launch and has net assets of $86 million. The rest of the SOL ETFs performed well, absorbing much of the outflows by TSOL. The Bitwise Solana Staking ETF (BSOL) continued to dominate with a $13.33 million single-day intake, lifting its cumulative inflows to $527.79 million The Grayscale Solana Trust (GSOL) also recorded a positive day with $10.42 million coming in, while the Fidelity Solana Fund (FSOL) posted $2.51 million in inflows. Data provider Solana Strategic Reserve showed that SOL ETFs hold about 6.83 million Solana tokens, valued at around $964 million. Solana ETF performance data. Source SoSoValue Related: Solana treasury backs ‘double disinflation’ plan amid 30% price decline XRP ETFs maintain perfect streak while DOGE ETFs disappoint While Solana ETFs had broken their perfect streak, the newly-launched XRP ETF products have yet to see an outflow day. SoSoValue data showed that XRP ETFs have only logged daily inflows, reaching a cumulative total net inflow of $643 million. On Wednesday, the Bitwise XRP ETF (XRP) led the pack with a $7.4 million inflow, while Canary’s XRPC ETF followed with $5.2 million. Franklin Templeton’s XRPZ and Grayscale's GXRP saw similar inflows of about $4 million. XRP inflows and cumulative net assets. Source: SoSoValue Meanwhile, the much-anticipated Dogecoin ( DOGE ) ETFs, which hold the top memecoin cryptocurrency, underperformed after their 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 a debut performance of about $11 million for GDOG. However, the asset fell short. On its first day, the GDOG ETF only generated $1.4 million in volume , which is significantly below the analyst’s expectations. The ETF analyst said this was “solid” for an average launch, but was low for a first-ever spot product. According to SoSoValue data, the GDOG ETF recorded a net inflow of $1.8 million on Tuesday. While the inflow was already low, it fell to just $365,000 on its second day of trading, an 80% decline. Magazine: Ethereum’s Fusaka fork explained for dummies: What the hell is PeerDAS? # Dogecoin # Cryptocurrencies # Altcoins # Investments # XRP # United States # Solana # Memecoin # ETF Add reaction