Spot Solana exchange-traded funds (ETFs) have gained significant investor interest, marking a continuous rise in inflows for the fourth straight day due to a capital shift from Bitcoin and Ether funds.

According to data from SoSoValue, Solana ETFs attracted $44.48 million in inflows on Friday, totaling $199.2 million, with asset totals exceeding $502 million. The Bitwise Solana ETF (BSOL) played a pivotal role, providing most of the new capital with a daily increase of 4.99%.

Conversely, Bitcoin ETFs faced $191.6 million in outflows the same day, continuing a trend of profit-taking. Recent days witnessed significant withdrawals, with Bitcoin ETFs suffering $488.43 million on Thursday and $470.71 million the prior day.

Similarly, Ether ETFs experienced $98.2 million in outflows this week, lowering cumulative inflows to $14.37 billion, following $184.3 million and $81.4 million outflows on Thursday and Wednesday, respectively.

Solana ETFs see inflows. Source: SoSoValue

Solana ETFs Gain Momentum

The current trend towards Solana ETFs reflects what market participants are calling a “capital rotation.” Vincent Liu, chief investment officer at Kronos Research, mentioned that this trend shows a growing appetite for novel narratives and yield opportunities through staking.

“Solana ETFs are surging on fresh catalysts and capital rotation, as Bitcoin and Ether see profit-taking after strong runs,” Liu stated. “The shift signals rising appetite for new narratives and staking-driven yield opportunities.”

Analysts predict that Solana’s momentum may persist into the upcoming week as Bitcoin and Ether undergo consolidation. “Solana momentum could extend next week, with rotation staying active while the major currencies pause, unless macro news triggers extreme volatility,” Liu added.

New Crypto ETFs Enter Markets

A new influx of crypto ETFs is set to hit the markets, prominently featuring Bitwise’s Solana Staking ETF (BSOL), which launched Tuesday with $222.8 million in assets, granting investors the opportunity to engage with Solana at an estimated 7% staking yield.

Additional funds, including those focusing on Litecoin and Hedera, are also breaking into the market, alongside the anticipated transformation of Grayscale’s Solana Trust into an ETF. Last week, Hong Kong approved its first spot Solana ETF.