Solana exchange-traded funds pulled in $10.26 million in the week ending August 14, a 70-fold jump from the prior week's $144,930. That's the strongest week for the funds since May 22, and the seventh straight week of net inflows.
Who drove the surge
Bitwise's Solana ETF (BSOL) attracted $8.8 million on August 10, its largest single-day inflow since May 12. Morgan Stanley's Solana Trust (MSOL) saw $1.43 million in inflows the next day. The other five issuers — VanEck, Fidelity, 21Shares, Franklin Templeton, and Grayscale — recorded zero net flows for the week.
Price goes the other way
Despite the flood of money into the funds, SOL itself fell 1.18% to $75.51. The disconnect between ETF demand and spot price isn't unusual, but weekly turnover across the funds dipped to $159.7 million from $167.3 million the week before.
The rest of the ETF market
Bitcoin ETFs gave back $389.7 million after adding $853.5 million the previous week. Ethereum ETFs lost $2.26 million following $244.9 million of inflows. XRP ETFs added $2.25 million for a fifth consecutive positive week, and Hyperliquid (HYPE) products took in $2.74 million.
What's on deck
The Solana funds ended the week with $893.5 million in net assets, and cumulative inflows since launch have reached $1.16 billion. The next catalyst could be the Agave v4.2 upgrade, slated for mainnet activation the week of August 17. Whether that moves the needle on flows or price remains to be seen.
