Solana Records First Negative Day for ETFs with 8.1 Million Outflows, While Other ETFs Stay Strong
XRP Continues Perfect Momentum with 0 Outflows and 643 Million Cumulative Inflows
Dogecoin Disappoints on ETF Launch with Only 1.4 Million Volume on First Day
Solana ETFs Experience Their First Shake-Up
The Solana ETFs recently had a flawless streak. Then on Wednesday, things took a turn: 8.1 million euros in net outflows, the first day in the red since their launch. The shock came from a single product: the 21Shares Solana ETF (TSOL). Over 34 million exited the fund in one session, a sharp movement for a still young ETF, now showing 26 million cumulative outflows with 86 million assets under management.
TSOL stumbled, but the rest of the ecosystem remains steady. The Bitwise Solana Staking ETF (BSOL) continues to be a market mainstay: 13.33 million dollars in inflows in a day, 527.79 million cumulative since inception. The demand remains strong. Grayscale Solana Trust (GSOL) adds 10.42 million, Fidelity (FSOL) still captures 2.51 million. Together, Solana’s products account for approximately 6.83 million tokens, nearly 964 million dollars, according to Solana Strategic Reserve.
A red day doesn’t indicate a reversal. But it serves as a reminder that even the current stars are not immune to swift movements when one player falters.
XRP: The Perfect Momentum Continues
While Solana hits a speed bump, XRP plays a flawless tune. Not a single day of outflows since ETF launch. The counter already shows 643 million cumulative inflows, confirming massive appetite for the asset.
On Wednesday, Bitwise XRP ETF (XRP) leads the way with 7.4 million inflows. Canary (XRPC) follows with 5.2 million. Fidelity (XRPZ) and Grayscale (GXRP) each add around 4 million. The flows are consistent, broad, and most importantly, steady: the perfect trio for a product aiming for lasting dominance.
While Solana copes with its first setback, XRP capitalizes on its momentum.
Dogecoin: A Lackluster Debut
Dogecoin was expected to make a splash. The first DOGE spot ETF, listed on Monday on NYSE as Grayscale Dogecoin Trust ETF (GDOG), was anticipated to reach around 11 million in volume on its first day, according to Bloomberg. The reality fell cold: only 1.4 million.
Analyst Eric Balchunas describes it as a “solid” start for a conventional launch but clearly below expectations for a global debut. The trend doesn’t seem to improve. Tuesday, the fund records 1.8 million inflows. Wednesday, it attracts only 365,000 dollars. An 80% drop in 24 hours.
Dogecoin remains a cult asset, but the spot ETF market doesn’t seem ready to match the enthusiasm of the legendary meme. Not yet.
Solana Corrects, XRP Surges, DOGE Hesitates
Three assets, three rhythms. Solana pauses after a lone stumble. XRP heads towards massive institutional adoption. DOGE, on the other hand, discovers the demands of a market where hype alone isn’t enough.
Investors will soon find out the answer to the real question: who will lead the next crypto cycle in ETFs?
