TLDR
Recent Solana (SOL) ETFs saw net outflows of approximately $8.10 million (first red day since launch) and later $13.55 million (largest so far) per public flow trackers and media reports (first outflow, largest outflow).
- The first outflow, $8.10 million on 27 Nov, followed a 21?day inflow streak (report).
- The largest outflow, $13.55 million on 2 Dec, was led by redemptions at 21Shares TSOL, partly offset by inflows to other funds (summary).
- Since launch (28 Oct), SOL ETFs still show over $600 million net inflows, despite the recent red prints (context).
Deep Dive
1. First Red Day
SOL ETFs posted their first net outflow of $8.10 million after a 21?day inflow streak on 27 Nov. The drop was driven by a single?day $34.37 million redemption at 21Shares TSOL, partly offset by $13.33 million into Bitwises BSOL and $10.42 million into Grayscales GSOL (details).
- A parallel account noted the same $8.10 million outflow and highlighted that SOL ETFs assets hovered near $915 million at the time (coverage).
The streak break signals a pause in the very strong early demand, likely profit?taking or rotation rather than a structural reversal on its own.
2. Largest Outflow
On 2 Dec, SOL ETFs recorded their largest daily net outflow to date at $13.55 million, with a $32.54 million redemption from TSOL while BSOL and GSOL saw $17.18 million and $1.82 million inflows, respectively (recap; summary).
- This came after buyers briefly returned with ~$5 million inflows the prior session, underscoring flow volatility around SOL products (same summary).
Flows are choppy across issuers; single?issuer redemptions can swing the aggregate even when peers are still attracting capital.
3. Net Inflows Context
Despite these outflows, cumulative net inflows since the 28 Oct debut remain over $600 million; AUM across SOL ETFs has been reported around $790 million to $915 million depending on the day and source (context; earlier snapshot).
- The outsized role of TSOL in redemptions, with repeated large withdrawals, contrasts with steady inflows into BSOL and GSOL in several sessions (issuer split).
Even with recent red days, the early launch phase still shows substantial net demand. Monitoring issuer?level flow dispersion can help distinguish transitory redemptions from broader trend shifts.
Conclusion
The most recent SOL ETF outflows were $8.10 million (first red day) and $13.55 million (largest to date), driven largely by one issuers redemptions, while other funds continued to absorb inflows (first outflow, largest outflow). Net flows since launch remain positive, so the takeaway is flow volatility rather than a definitive reversal.
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