Solana and XRP ETFs See Strong Inflows Despite Market Downturn

Solana and XRP exchange-traded funds (ETFs) are off to an impressive start on Wall Street, drawing steady institutional demand even as the broader crypto market faces continued downward pressure led by Bitcoin. Recent data from SoSo Value highlights that these ETFs are attracting fresh capital, signaling growing investor confidence in both assets despite short-term market volatility.

Solana ETFs logged a notable daily net inflow of $12 million on November 14, driven entirely by Bitwise’s SOL ETF, while Grayscale’s product recorded no net flow for the day. Over the past week, Solana ETFs accumulated $46 million in net inflows. Since their launch three weeks ago, these funds have maintained a consistent streak of daily net inflows and have yet to record a single day of outflows—an encouraging sign of sustained institutional interest.

XRP’s newly launched ETF is also gaining momentum. Canary’s XRP ETF marked its second trading day on November 14 with a substantial daily net inflow of $243 million, nearly matching the $245 million it received on launch day. As previously reported, the fund outperformed Bitwise’s Solana ETF on its debut, generating $58.5 million in trading volume and securing $245 million in first-day inflows. This performance positions Canary’s XRP ETF as the strongest ETF launch of the year.

The fund’s success has surpassed industry expectations. Bloomberg analyst Eric Balchunas predicted only around $17 million in trading volume for day one, while fellow analyst James Seyffart anticipated roughly $34 million—both well below the actual numbers.

More XRP ETFs are expected to enter the market soon. The SEC recently clarified that S-1 filings without delaying amendments can automatically become effective after 20 days. As a result, Franklin Templeton, Bitwise, and 21Shares are preparing to launch their own XRP ETFs next week after updating their S-1s. Analysts anticipate additional crypto ETF issuers will quickly file Form 8-A to ensure their registrations go effective within the same timeframe, potentially boosting competition and investor options in the growing crypto ETF landscape.