Bloomberg ETF analyst Eric Balchunas says Solana ETF inflows are posting “pretty impressive numbers,” even as the token has dropped by more than half since they launched.
Exchange-traded funds tied to Solana have held on to their early inflows, despite the token having more than halved in price since the funds were launched, which analysts say indicates institutional resilience.
Solana (SOL) is down 57% since Solana ETFs launched in the US in July, but the funds have managed to accumulate $1.5 billion in flows and “not really give any of it up,” Bloomberg ETF analyst Eric Balchunas said on Thursday.
He added that 50% of the inflows to the ETFs are from institutional investors, which Balchunas called a “serious investor base” and a good sign for the future.
