Solana slides over 20% as ETF frenzy fails to support price

Solana ETFs debuted in the ￰0￱ record inflows, reflecting institutional interest in its growing prominence. Today, Solana slumped nearly 20%, marking an unexpected divergence from the debut’s record ￰1￱ instance, the BSOL fund recorded the most inflows in its first week, attracting roughly $417 to $421 million in net inflows, placing it among the top 20 ETFs by ￰2￱ ETF, which launched with $223 million in seed capital, surpassed most notable asset managers such as Grayscale, which launched with only $2.2 ￰3￱ fund leads in inflows with over $65 million this week Based on on-chain data, Bitcoin and Ethereum ETFs continue to lead in inflows despite an unexpected outflow of more than $25o million last ￰4￱ data shows that Bitcoin ETFs, including the IBIT ETF, experienced roughly $798 million in outflows over the past week, while Ethereum ETFs demonstrated sustained inflows of $15 million.

Bitcoin’s decline below $110,000 was the primary driver of the trend.