Solana ETFs hold strong despite 57% price drop

Exchange-traded funds tied to Solana have retained roughly $1.5 billion in inflows even as the token has dropped more than half since the products launched.

Bloomberg ETF analyst Eric Balchunas said the funds have largely held their early capital despite the downturn in Solana’s price since their July debut.

“Most wouldn’t even make it to age one or two if they went down 57% in the first six months,”

Balchunas said.

Balchunas added that about 50% of the ETF inflows have come from institutional investors, which he described as a “serious investor base.”

He also said that adjusting Solana’s $50 billion market capitalisation relative to Bitcoin’s roughly $1.4 trillion suggests the equivalent of about $54 billion in flows.

Solana ETFs recorded their first net outflow day in more than a month on Thursday, with about $6 million exiting the products after $19 million of inflows the previous day.

Solana is currently trading near $88, roughly 70% below its January 2025 all-time high of $293 during a memecoin-driven rally.

At the time of reporting, Solana price was $87.82.