Solana ETFs See $8.92M Outflow Led by Bitwise, Grayscale Funds

Edgen Crypto

·Feb 09 2026, 06:59

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Key Takeaways

Solana-based spot exchange-traded funds (ETFs) experienced a notable net outflow of $8.92 million for the trading week of February 2 to February 6, 2026, signaling a cooling of investor sentiment in traditional financial vehicles tracking the asset.

Total Outflows: Solana spot ETFs registered a cumulative net outflow of $8.92 million during the first trading week of February 2026.
Fund Divergence: Bitwise's BSOL and Grayscale's GSOL led the withdrawals with $8.6 million and $5.21 million in outflows, respectively, overwhelming a $5.19 million inflow into Fidelity's FSOL.
Market Impact: These redemptions suggest weakening short-term investor confidence and could translate into direct selling pressure on the underlying SOL asset as fund managers liquidate holdings.

Solana ETFs Record $8.92M Net Outflow in Early February

During the trading week from February 2 to February 6, 2026, Solana spot exchange-traded funds recorded a cumulative net outflow of $8.92 million. This movement reflects a shift in investor appetite for SOL exposure through regulated products, pointing toward caution after a period of strong demand.

Bitwise, Grayscale Outflows Eclipse Fidelity's $5.19M Inflow

The headline figure was driven by significant withdrawals from two major issuers. Bitwise's Solana ETF (BSOL) experienced the largest drain, with investors pulling a net $8.6 million. Similarly, the Grayscale Solana Trust (GSOL) saw a net outflow of $5.21 million. These substantial redemptions more than canceled out the positive activity seen in Fidelity's fund. Fidelity's FSOL stood out as a counterpoint, attracting $5.19 million in net new investment, but its inflows were insufficient to turn the weekly total positive.

Redemptions Signal Potential Selling Pressure for SOL

The net outflows from these ETFs carry direct implications for the SOL spot market. When investors redeem shares of a spot ETF, the fund's issuer often must sell the underlying asset—in this case, SOL tokens—to meet those cash redemptions. This mechanism can introduce sustained selling pressure on the open market. The trend of outflows, if it continues, may indicate a broader decline in short-term institutional and retail confidence in Solana's price performance.