BLOOMBERG: SOLANA ETF FLOWS ARE QUIETLY MASSIVE

According to Bloomberg ETF analyst Eric Balchunas, $SOL has dropped about 57% since spot ETFs launched in July -- arguably some of the worst timing any ETF launch could have.

Yet the funds have still attracted roughly $1.45B in cumulative inflows, and most of that capital has stayed in the products.

Another notable detail: about 50% of the assets come from 13F filers, meaning institutional investors are making up a large share of the investor base.

Balchunas also points out something many are overlooking. If you adjust the flows for Solana’s smaller market cap relative to Bitcoin, the demand is roughly equivalent to about $54B in Bitcoin ETF flows at the same stage.

At that point in its ETF cycle, #Bitcoin had roughly half that amount -- and $BTC was rallying, not down nearly 60%.

Despite brutal price action, the institutional appetite behind #Solana ETFs appears stronger than many expected. 🤯