US spot Solana ETFs recorded net outflows of $25.0 million in the five sessions from 5 to 9 Oct, according to Farside Investors. That ended 14 straight weeks of net inflows, the longest run since the funds launched, according to The Block’s analysis of SoSoValue data. SoSoValue puts the week at $24.8 million. Farside’s pages show only three weeks, so we cannot confirm the streak independently.
CryptoWatchDesk last covered the sleeve in its 29 Sep note on the Solana funds, after a week in which the funds took in $188.1 million. The week to 9 Oct reverses about 13% of that. Bitcoin and ether funds also lost money; those totals are in Friday’s ETF Desk on bitcoin and ether.
| Fund | Week to 9 Oct ($M) |
|---|---|
| BSOL (Bitwise, Solana) | −21.0 |
| GSOL (Grayscale, Solana) | −3.7 |
| FSOL (Fidelity, Solana) | −2.1 |
| MSOL (Morgan Stanley, Solana) | +1.8 |
| VSOL, TSOL, SOEZ (other Solana funds) | 0.0 |
| Solana ETFs total | −25.0 |
| THYP (Hyperliquid fund) | −12.4 |
| HYPG (Hyperliquid fund) | +2.0 |
| BHYP (Hyperliquid fund) | +1.0 |
| Hyperliquid ETFs total | −9.4 |
| ZCSH (Grayscale, Zcash) | −30.8 |
Source: Farside Investors, US-listed spot funds; week covers 5–9 Oct and is the sum of daily Farside rows.
The Solana exit is concentrated in one issuer. BSOL, the largest fund, accounts for $21.0 million of the $25.0 million, and the other outflows came from two funds. The Block, citing SoSoValue, called it BSOL’s largest weekly outflow on record and the largest for the sleeve since launch. No single day was large; Monday’s $9.2 million was the biggest. The pattern is a steady fade, not a one-day redemption. SOL traded at $110.40 on Kraken at 19:56 UTC on Saturday, about 9.5% below its 25 Sep close of $121.98.
Hyperliquid funds lost $9.4 million, after gains of $3.4 million and $9.3 million in the previous two weeks, almost all from THYP’s $9.7 million outflow on Thursday. Grayscale’s Zcash ETF, ZCSH, lost $30.8 million, its second weekly outflow. our 4 Oct Zcash analysis used a SoSoValue-based tracker that put the first at $93.6 million; Farside has it at $77.6 million. The sources differ mainly on 1 Oct.
For readers new to the product, a spot ETF holds the asset itself and shares are created or redeemed against it. Flows record that activity; they do not forecast price.
This article is for information only and is not investment advice.