17-Day Inflow Streak Signals Demand for Solana Token

Solana American spot GROUND$130.90 Exchange-traded funds (ETFs) extended their inflow streak to a 17th consecutive day on Wednesday, with no net withdrawals since they began trading on October 28.

The funds added $48.5 million on Wednesday, bringing cumulative net inflows since inception to $476 million, according to Farside data. Wednesday’s influx was the second largest this month.

The inflow, the longest uninterrupted streak of positive flows among crypto ETFs this year, comes as Bitcoin is most established. BTC$92,123.27 and ether ETH$3,033.72 products lose support.

In November alone, Bitcoin ETFs saw net outflows of around $2.96 billion, while Ether ETFs saw around $107 million, according to Farside data.

Bitwise’s BSOL led Wednesday’s inflows with $35.9 million in new money, followed by Grayscale’s GSOL with $12.6 million. Fidelity (FSOL) and VanEck (VSOL) added smaller amounts.

Flows into Solana ETFs indicate a desire to increase exposure to the token even as the crypto market weakens. The CoinDesk 20 Index (CD20) has fallen 12% over the past seven days.