Bitcoin News Today: Solana ETFs Outpace Bitcoin as Gold and Regulation Challenge Dominance

Gold, up 54% year-to-date in 2025, outperformed Bitcoin's 21% gain last week, reigniting debates about its role as a barometer for crypto cycles, according to a beINcrypto analysis. The BTC/Gold Mayer Multiple, a metric comparing Bitcoin's price relative to gold against its 200-day moving average, has fallen near 1—a level historically associated with Bitcoin bottoms and subsequent rallies, the beINcrypto piece notes. Analysts say this mirrors past cycles where Bitcoin eventually surged to outpace gold, supported by falling interest rates, pro-crypto regulation, and institutional inflows.

Meanwhile, Solana (SOL) ETFs have captured investor attention, drawing $417 million in U.S. inflows this week, surpassing combined Bitcoin and Ethereum ETF flows, per TradingView. The Bitwise Solana ETF (BSOL) led the charge, gaining 4.99% on Friday alone, Cointelegraph reports. This marks four consecutive days of inflows for Solana funds, totaling $199.2 million in cumulative capital, as Cointelegraph noted. In contrast, Bitcoin and Ethereum ETFs faced outflows, with Bitcoin shedding $191.6 million on Friday and Ethereum losing $98.2 million, the Cointelegraph coverage said. Market participants attribute this "capital rotation" to growing appetite for staking yields and emerging narratives, CoinMarketCap reports.

Hong Kong further solidified its crypto ambitions by easing regulatory hurdles for exchanges. The Securities and Futures Commission (SFC) announced shared order book access with overseas platforms, enabling local investors to tap global liquidity pools, CryptoTimes reported. This move, part of Hong Kong's ASPIRe roadmap, aims to enhance price discovery and competitiveness, according to Crypto.news. Additionally, the SFC removed a 12-month trading history requirement for professional investors in stablecoins and tokens, accelerating product offerings, TradingView reports. Regulators emphasized balancing innovation with investor protection, requiring platforms to maintain reserve funds and conduct joint market surveillance, the TradingView report added.

The regulatory tailwinds extend beyond Hong Kong. Robinhood's listing of SEI (SEI), the token of the Sei Network, expanded retail access to crypto assets, targeting 26.7 million users, according to a Blockchain News report. Analysts highlighted the potential for SEI to attract mainstream investors, leveraging Robinhood's fiat onramps to boost liquidity.

Bitcoin bulls remain cautiously optimistic, citing macroeconomic factors like falling interest rates and institutional adoption, the beINcrypto analysis said. However, the current capital rotation toward altcoins and staking-driven yields underscores a maturing market where Bitcoin's dominance faces new challenges, CoinMarketCap added. As Hong Kong and U.S. regulators continue reshaping the landscape, investors will watch for volatility triggers from macro news or regulatory shifts, the Blockchain News report warned.