On Monday, November 10, US spot SOL-ETF recorded a net inflow of funds for the tenth trading day in a row.
According to SoSoValue, total net inflows into spot currencies on Monday ETF on Solana amounted to $6,78 million, of which $5,92 million went to Bitwise’s BSOL. Grayscale’s GSOL received $854,480.
In total, since their launch, the funds have attracted a total of $342,48 million. In just the first week of operation, spot SOL-ETF raised almost $200 million.
Inflow of funds into the American spot ETF on Solana significantly exceeded pre-launch expectations, which anticipated less institutional adoption due to perceived regulatory and technical risks Solana, — said Director of LVRG Research Nick Rook.
According to him, investors are considering ETF on Solana as a «highly volatile» addition to ETF BTC and ETH, providing diversified exposure to the popular altcoin ecosystem. These investors are prepared to tolerate greater volatility for potentially higher risk-adjusted returns over the cryptocurrency’s growth cycle.
In the future, a steady inflow of funds into ETF should provide long-term price support for SOL by reducing supply and attracting institutional capital, Rook said.
At the time of writing the article Solana traded at $164,20 over the past week. Altcoyin increased in price by 3,15%.