Solana News Today: Bitcoin ETFs Lose $3.79B While Solana Gains-CoinShares Pulls Filing

CoinShares has withdrawn its SEC filing for a staked Solana exchange-traded fund, marking a pivotal moment in the evolving landscape of crypto ETFs as institutional investors shift capital away from Bitcoin and into alternative assets like Solana. The decision comes amid a broader market trend where Bitcoin ETFs have faced significant outflows, while Solana ETFs have attracted record inflows, driven by competitive staking yields and lower fees. In mid-November, Bitcoin ETFs experienced a $900 million outflow in a single day-the second-largest since their launch in January 2024-as the asset fell below $95,000 for the first time in six months. Over the month, Bitcoin ETFs recorded $3.79 billion in outflows, the highest monthly redemptions since their inception. In contrast, Solana ETFs drew $531 million in their first week, with cumulative inflows reaching $621 million by late November, despite the broader crypto market shedding $230 billion in value.

The divergence in investor behavior reflects a combination of factors, including Solana's 7% staking yields and fee structures that undercut Bitcoin's offerings. Bitcoin's lack of a native staking mechanism leaves it as a pure price-play asset, whereas Solana ETFs generate additional returns for investors through staking rewards. This has made Solana an attractive alternative for institutions seeking both capital appreciation and yield. Bitwise's BSOL, for example, has led the inflow surge, drawing $30.9 million on November 25 alone. Analysts attribute sustained interest to Solana's institutional-grade infrastructure, including its high-speed blockchain and growing adoption in tokenization projects, which position it as a "blue-chip" digital asset.

The trend is part of a broader regulatory shift under SEC Chairman Paul Atkins, whose Project Crypto initiative has streamlined approval processes for compliant ETFs. This has enabled a wave of altcoin ETFs, including Grayscale's upcoming Dogecoin (GDOG) and XRP (GXRP) products, which will trade on the NYSE starting November 24. These funds replace private trust structures with regulated, exchange-traded vehicles, offering investors clearer custody standards and liquidity. The approval of multiple XRP ETFs, including Franklin Templeton's pending product, underscores the SEC's willingness to diversify crypto exposure options.

Despite the optimism, Bitcoin's market depth has declined 30% from 2025 highs, exacerbating price volatility during outflows. Meanwhile, Ethereum ETFs have also faced $1.64 billion in November redemptions, leaving Solana as the sole major asset with uninterrupted inflows. Solana's price, currently trading near $139, remains 52% below its January 2025 peak but has found support amid steady ETF demand. Raj Gokal has called the 21-day inflow streak "greatly underappreciated," noting its role in stabilizing the asset during a broader market downturn.

The competitive ETF landscape is intensifying, with Franklin Templeton preparing to launch its Solana ETF on NYSE Arca as early as November 26. This follows Canary Capital's successful XRP ETF debut, which drew $250 million in assets under management. As more providers enter the space, the focus will shift to differentiation through yield generation, fee efficiency, and institutional partnerships. For now, the Solana ETF's performance highlights a maturing market where crypto is no longer a monolithic asset class but a diversified ecosystem of opportunities.