Bitcoin and Ethereum ETFs have recently been a bit painful — a total net outflow of 290 million USD last week, with BlackRock's IBIT leading the exodus, cutting 149 million alone. Ethereum's ETHA also saw an outflow of 38.63 million.
In contrast, Solana is heading in a completely different direction; the SOL ETF has attracted $44 million, with Bitwise's BSOL single-handedly taking on all the incremental amount, pushing the asset management scale of the SOL ETF to $520 million.
Interestingly, while BTC and ETH are both losing value, SOL has become the new darling of funds. Is the market shifting trends, or is the SOL ecosystem truly gaining momentum? On-chain data needs to be monitored.
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Bitcoin and Ethereum ETFs have recently been a bit painful — a total net outflow of 290 million USD last week, with BlackRock's IBIT leading the exodus, cutting 149 million alone. Ethereum's ETHA also saw an outflow of 38.63 million.
In contrast, Solana is heading in a completely different direction; the SOL ETF has attracted $44 million, with Bitwise's BSOL single-handedly taking on all the incremental amount, pushing the asset management scale of the SOL ETF to $520 million.
Interestingly, while BTC and ETH are both losing value, SOL has become the new darling of funds. Is the market shifting trends, or is the SOL ecosystem truly gaining momentum? On-chain data needs to be monitored.