Solana ETFs End 14-Week Buying Streak as Market Sentiment Shifts
Key Summary
US spot Solana (SOL) exchange-traded funds (ETFs) lost $24.8 million in the week ending October 9, ending a 14-week buying streak. The outflow, their largest since launch, was followed by a $2.4 million inflow two weeks prior, and a $188.2 million inflow in their second-biggest week on record. Solana's record exit comes amidst a red week for crypto ETFs, with Bitcoin (BTC) ETFs shedding $681.1 million and Ethereum (ETH) ETFs losing $542.1 million.
Market Trends
Solana ETFs, which track the US spot Solana (SOL) market, have seen a significant shift in market sentiment. The funds lost $24.8 million in the week ending October 9, marking their largest weekly outflow since launch in October 2025. This outflow, combined with a $2.4 million inflow two weeks prior and a $188.2 million inflow in their second-biggest week on record, suggests a correction in investor sentiment. The outflow accounts for only about $25 million of the $170 million decline in net assets, which fell 8.9% over the week, from $1.90 billion to $1.73 billion. The rest of the decline is largely attributed to Solana's price slide over the same period. Despite the outflow, Solana (SOL) has seen a modest rise in value, trading at $111.53 at press time, up 1.45% over the past 24 hours.
ETF Performance
Other crypto funds have not fared as well. Bitcoin (BTC) ETFs shed $681.1 million in the same week, while Ethereum (ETH) ETFs lost $542.1 million. Ethereum funds have now closed the week on a ninth straight outflow day. Zcash (ZEC) and Hyperliquid (HYPE) ETFs also posted outflows of $30.7 million and $9.4 million, respectively. In contrast, spot XRP (XRP) ETFs drew $11.3 million over the same week, extending their streak to 13 consecutive weeks. Their last outflow week ended July 10.
Market Outlook
The next weekly print, covering trading through October 16, will show whether fund buyers returned after the price drop. XRP ETFs have drawn more net money in 2026 than spot Bitcoin ETFs, with cumulative net inflows reaching a record $1.80 billion. Despite XRP falling 8.2% during the week, the buying held up. Solana and XRP ETFs have each drawn more net money in 2026 than spot Bitcoin ETFs, with Solana funds attracting $816.8 million and XRP funds $635.5 million, against $494.1 million for Bitcoin.