Solana and XRP ETFs See Diverging Flows as Institutions Rotate Toward High-Growth Altcoins

Spot Solana and XRP ETFs in the U.S. are showing contrasting trends amid the recent crypto market correction, signaling a shift in institutional positioning. While Solana (SOL) products recorded their largest-ever daily outflow, XRP ETFs continued to attract capital, suggesting growing interest in alternative assets outside Bitcoin and Ethereum.

According to SoSoValue data, spot Solana ETFs registered a net outflow of $13.55 million on December 2, marking the second consecutive outflow and the biggest since launch. The decline was led by a substantial $32.54 million redemption from the 21Shares Solana ETF (TSOL), which has now accumulated $60.14 million in net outflows. Despite this, other Solana-focused products showed resilience. Bitwise’s Solana Staking ETF (BSOL) saw $17.18 million in inflows, while the Grayscale Solana ETF added another $1.82 million, continuing their streak of consistent inflows. Solana ETF assets under management (AUM) still exceed $790 million, reflecting sustained demand from institutional investors.

SOL price action has remained relatively strong despite ETF outflows. After dipping to a 24-hour low of $123.31, Solana rebounded more than 3% to trade at $127.53. Trading volume, however, slipped by 3%, hinting at reduced market participation following the ETF withdrawals.

In contrast, XRP ETFs recorded impressive inflows of $90 million, the fourth-largest since launch, bringing total assets above $723 million. The Grayscale XRP ETF (GXRP) dominated with $52.30 million in inflows, followed by Franklin Templeton’s XRPZ with $28.41 million. Canary Capital’s XRPC added $5.79 million and Bitwise’s XRP ETF brought in $3.15 million.

Growing institutional interest aligns with significant on-chain trends. Santiment reported that XRP whale wallets holding more than 100 million tokens remain at a seven-year high, collectively holding 48 billion XRP. Technical indicators also support bullish sentiment, with the TD Sequential flashing a buy signal on the weekly chart. Veteran trader Peter Brandt recently suggested the XRP drawdown may be nearing completion, paving the way for a potential rally.

XRP continues to trade sideways following the broader market sell-off, hovering around $2.01 with intraday levels between $1.99 and $2.06.