While Bitcoin ETFs still lead by a wide margin, Solana’s early ETF inflows outpaced Ethereum’s launch period.
U.S. spot Solana exchange-traded funds (ETFs) pulled in about $750-766 million in early inflows, showing stronger early demand than Ethereum ETFs did at launch – but still far behind Bitcoin.
According to a new report from Everstake, U.S. spot SOL ETFs launched in October 2025 and reached roughly $950 million in assets under management (AUM) by late December. That equals about 1.35% of Solana’s total market value.
By comparison, U.S. spot-Bitcoin ETFs, which launched in January 2024, attracted about $12.1 billion in net inflows during their first three months, according to SoSoValue. By the end of March 2024, Bitcoin ETF assets had climbed to roughly $59 billion, roughly 4% of Bitcoin’s total market capitalization at the time.
Ethereum spot ETFs, which launched in late July 2024, had a slower start. During their first three months, ETH ETFs recorded net outflows of $524 million, according to SoSoValue. At the time, Ethereum’s market capitalization stood near $390 billion, meaning ETF holdings represented under 1% of ETH’s total market value.
While the dollar value of Solana ETF inflows remains far smaller than those in Bitcoin products, the data suggest that Solana had stronger early momentum relative to Ethereum’s ETF rollout.
The findings highlight how institutions are approaching altcoin exposure through ETFs and suggest Solana may be emerging as a meaningful asset in regulated crypto markets.
The report also pointed to broader growth across the Solana ecosystem. Stablecoin supply on the network reached approximately $16 billion, with monthly transfer volumes exceeding $50 billion, supporting both decentralized finance activity and payment use cases.
However, Everstake cautioned that Solana’s ETF market remains in its early stages, and it is unclear whether inflows will remain steady over time or prove more sensitive to broader market conditions.
