Solana ETF Sees $8.1M Outflow, Ending 21-Day Inflow Streak Amid Bitcoin and Ethereum Fund Recovery

Solana ETF Outflows: Solana exchange-traded funds experienced their first net outflow of $8.10 million on November 26, ending a 21-day inflow streak, primarily driven by significant withdrawals from 21Shares' TSOL fund.

Institutional Capital Shift: The outflow coincided with a rotation of institutional capital towards Ethereum and XRP products, which saw inflows of $60.82 million and $21.81 million, respectively, indicating selective investor positioning rather than a broad risk-off sentiment.

Franklin Templeton's ETF Filing: Franklin Templeton filed for a spot Solana ETF, the SOEZ, with a competitive management fee structure, aiming to launch on NYSE Arca, which could enhance institutional interest in Solana products.

Market Dynamics and Future Outlook: The first outflow from Solana ETFs may reflect short-term profit-taking amid broader market volatility, while the competitive landscape and institutional demand suggest potential for continued growth in the sector, despite recent price fluctuations in Solana.