Solana-focused exchange-traded funds (ETFs) have recently surpassed XRP products in terms of inflows, showcasing a significant shift in investor preference. On September 28, Solana funds in the U.S. witnessed daily net inflows of $12.70 million, sharply contrasting with XRP’s $3.96 million. This positions Solana more than three times ahead of XRP in daily fund flows.
Thirty-Day Inflow Shows Sustained Preference
Over the past 30 days, Solana ETFs have accumulated net inflows totaling $278.20 million, surpassing XRP’s $127.05 million. Although XRP still leads in cumulative net inflows with $1.80 billion compared to Solana’s $1.62 billion, the narrowing gap highlights Solana’s rapid catch-up.
Known for its high-speed blockchain network, Solana is gaining traction, particularly in decentralized finance and application spaces. The surge in ETF data indicates growing institutional interest in this ecosystem.
The September 28 data shows Solana funds drawing in $12.70 million, far exceeding XRP products’ $3.96 million.
Solana Leads in Managed Net Assets
Solana’s prominence is evident in managed net asset size. Solana funds have reached $1.93 billion, while XRP trails at $1.68 billion. Solana also has an edge in product variety, with nine ETFs compared to XRP’s five.
Conversely, market capitalization tells a different story. XRP’s market cap stands at $95.47 billion, outpacing Solana’s $70.69 billion. However, the ratio of ETF products to token market cap is 2.72% for Solana, higher than XRP’s 1.76%. Daily trading volume also favors Solana, with a figure of $90.43 million compared to XRP’s $39.37 million.
Price Dynamics Supportive of Demand
The strengthening fund flows have mirrored Solana’s price movement. Rising from around $75 in early August, the price has climbed to $119.81, surpassing the 200-day moving average at $95. A local peak was seen at $125 in September.
In technical terms, the 50-day moving average crossing above the 200-day suggests a sustained upward trend, with the relative strength index hovering around 60, indicating room for further gains. Yet, recent candlestick patterns hint at a pause around $125 with reduced volume.
Solana funds have reached $1.93 billion in managed net assets, while XRP products stand at $1.68 billion.
A Sturdy Momentum but Trails Bitcoin and Ethereum
ETF flows are a key indicator of institutional demand, and although XRP holds a cumulative lead, Solana’s recent momentum clearly draws market attention. Maintaining this pace could increase the managed asset gap.
Despite its achievements, Solana’s ETF scale lags behind major market players. Bitcoin ETFs account for $107.82 billion, and Ethereum ETFs hold $17.69 billion. Solana’s appeal, more than its absolute size, lies in its rapid growth trajectory.
