Solana ETFs attract $1.1 billion

Bitget said on May 23 that Solana exchange-traded funds pulled in about $1.1 billion over an 11-day stretch, while Ethereum ETFs recorded $104 million in net outflows over the same period. The figures, published in a Bitget market note, added to evidence that money has recently moved toward Solana-linked products and away from Ethereum exposure. Other market trackers and crypto-focused outlets also cited the same Solana-versus-Ethereum flow split in reports published this week. ### Where did the $1.1 billion figure come from? Bitget published the figure in a May 23 report that said Solana ETFs had attracted roughly $1.1 billion in 11 days. The same report said Ethereum ETFs saw $104 million in net outflows over that window. The comparison was framed as a sign that Solana products had outpaced Ethereum funds in recent flow momentum. (phemex.com) Phemex, citing the same market development on May 21, reported Solana ETF inflows of about $1.12 billion across an 11-day streak and described Ethereum’s $104 million withdrawal total as part of a broader pattern of uneven demand. That secondary report aligns closely with the Bitget figures in the source briefing. (phemex.com) ### What are investors actually rotating into? CoinGlass lists a dedicated Solana ETF tracker, reflecting that Solana-linked exchange-traded products are now being monitored as a distinct segment rather than folded into broader crypto-fund data. That matters because headline flow numbers measure demand for listed investment vehicles, not just trading in the SOL token itself. (phemex.com) Bitget’s earlier reporting in November said U.S. Solana spot ETFs got off to a strong start, attracting $199 million in net inflows during their initial phase. Another Bitget report from the same period said Solana ETF assets had climbed on a mix of fresh inflows, lower-fee launches and expanding institutional access. Those earlier figures help explain why a larger 11-day flow burst would draw attention now. (coinglass.com) ### Why is Ethereum the comparison point? Ethereum is the closest large-cap benchmark for judging whether demand is broad-based across crypto ETFs or concentrated in one asset. Bitget’s May 23 comparison put Ethereum on the other side of the trade, with $104 million in net outflows while Solana products gained funds. (bitget.com) 247WallSt. reported on May 15 that Ethereum ETFs had already been bleeding assets while XRP- and Solana-linked funds continued to attract money. That report said Solana had accumulated about $1.12 billion in cumulative inflows, suggesting the May 23 numbers fit an existing pattern rather than a one-day anomaly. (phemex.com) ### Does this mean Solana funds are larger than Ethereum funds? The available reporting supports a narrower claim: Solana ETFs outperformed Ethereum ETFs over the cited 11-day period. It does not, by itself, establish that Solana ETFs are larger overall, have more assets under management, or have surpassed Ethereum across every measure. (247wallst.com) 247WallSt. separately reported that XRP still led 2026 cumulative crypto-ETF inflows with $1.39 billion, while Solana stood near $1.12 billion. That suggests the Solana figure is significant, but it should be read as a recent flow surge and not as a blanket ranking of every crypto ETF segment. (phemex.com) ### What should readers watch next? CoinGlass and issuer disclosures are the clearest places to watch whether the 11-day Solana run continues or reverses. Daily and weekly ETF flow updates will show whether Ethereum outflows persist and whether Solana products keep adding assets after the May 23 report. Bank of America’s latest 13F, as described in market coverage on May 23, also showed that large institutions are still adjusting crypto ETF exposure across Bitcoin, Ethereum and Solana products. (247wallst.com) The next round of issuer flow releases and institutional filings will provide the next concrete read on whether this rotation broadens. (solanafloor.com) (coinglass.com)