Solana Dropped 20% Despite Whale Buying - ETF Records Inflow US$421 Million

Solana (SOL) dropped sharply by about 20% in a week after reaching a peak of US$205 , making it now priced at US$167, Tuesday (04/11).
Interestingly, the decline occurred despite the network launching the world's first (ETF) spot Solana, which received positive feedback from investors.
According to a CoinShares report, whales or large investors are making massive accumulations, with Solana-based investment products recording a net inflow of US$421 million.
The figure makes it the second highest record in its history during a sluggish market condition. Meanwhile, Bitcoin and Ether have declined recently.
Bitwise's Solana ETF (BSOL) has become the star attraction by attracting new funds of approximately US$199 million and an initial capital total of US$223 million, outperforming BlackRock's bitcoin ETF.
Meanwhile, Grayscale Solana Trust (GSOL) only recorded an inflow of US$2.2 million, despite debuting with managed assets of US$102 million.

SOL0.57%

BTC1.36%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

3 Likes