Solana
US Spot Solana ETFs Log First Net Daily Outflow Following Record Inflows
American spot Solana exchange-traded funds recorded net redemptions on September 30, breaking a streak of weekly inflows.
American spot Solana exchange-traded funds registered a net outflow of approximately $11.10 million on September 30, according to data from SoSoValue. The Bitwise Solana Staking ETF accounted for the largest redemption at $8.94 million, while the Fidelity Solana Fund ETF took in $2.77 million. A separate tally placed total net redemptions at roughly $12.5 million, citing additional outflows from VanEck and Morgan Stanley products.
Because spot funds hold the underlying digital asset directly, share redemptions require the disposal of SOL tokens, creating direct selling pressure in the market. The net outflow ended a period of strong demand that saw the sector take in $188 million during the week ending September 29, including a peak daily inflow of $86.7 million on September 25.
Despite the daily dip, cumulative net inflows across the spot products remain at approximately $1.6 billion since launch, with total assets under management standing near $1.96 billion. Solana traded around $117.66 on October 1, retaining gains of 4.1% over seven days and 15.3% over the prior 30 days.
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