|

Solana ETFs Attract $540 Million From Wall Street In Q4: Data

Half of all belongings sitting in US spot Solana exchange-traded funds are owned by massive institutional buyers — an indication that critical cash, not simply retail merchants, has been driving demand for the reason that merchandise launched final fall.

Wall Street Names Top The List

Bloomberg ETF analyst James Seyffart launched data this week drawn from 13F filings submitted to the Securities and Exchange Commission in mid-February.

Those filings, required of any establishment managing greater than $100 million in belongings, present that the 30 greatest holders of US spot Solana ETFs accrued greater than $540 million price of positions throughout the fourth quarter of 2024.

Electric Capital, a Silicon Valley enterprise capital agency, held the most important stake at near 138 million. Goldman Sachs got here in second at $1074 million. Elequin Capital, SIG Holding, and Multicoin Capital rounded out the highest 5. Morgan Stanley and Citadel Advisors have been additionally among the many consumers.

Investment advisors made up the largest slice of that complete, accounting for greater than $270 million in holdings. Hedge fund managers adopted at $186.4 million. Holding corporations and brokerage companies held practically $60 million and $20 million, respectively. Banks trailed the group at $4.5 million.

A Rough Start On Price

The first US spot Solana ETF went dwell on October 28, when Bitwise obtained SEC approval and commenced buying and selling. Other merchandise adopted. Since then, cumulative inflows throughout all US-listed spot Solana ETFs have reached greater than $950 million, in response to information from Farside Investors — a determine that covers retail and smaller establishments not captured within the 13F filings.

But the timing hasn’t been type on worth. Those This fall institutional positions have been backed by roughly 4.3 million SOL tokens, which have been valued at round $124.95 every at year-end. By the time Seyffart shared his evaluation, SOL had dropped to $86.50 — a decline of greater than 30%.

Flows Hold Even As Token Drops

Despite the slide in worth, cash has saved transferring in. Bloomberg ETF analyst Eric Balchunas famous final week that web flows into Solana ETFs have stayed comparatively regular in current months, even because the token itself fell.

He additionally flagged that the 50% institutional possession determine factors to a purchaser base that skews towards deliberate, longer-term positioning somewhat than short-term buying and selling.

The information covers solely the fourth quarter. Updated filings for the primary quarter of 2025 received’t be out there till mid-May, so how establishments have responded to the worth drop received’t be clear for a number of extra weeks.

Featured picture from Unsplash, chart from TradingView

Similar Posts