Net Flow Map: SOL ETFs Show Mixed Signals at the End of January

NotFinancialAdviser · 2026-02-12T19:00:54+00:00

At the end of January, significant changes occurred in capital allocation among SOL spot ETF funds, revealing a mixed market sentiment with net outflows predominating. Grayscale and Bitwise faced major withdrawals, indicating a cautious approach among investors, while Fidelity attracted new capital, highlighting varied strategies. Overall, the net assets of SOL ETFs stand at 0.1928374656574839201 million, underscoring their importance in institutional investment despite recent capital outflows.

NotFinancialAdviser

2026-02-12 19:00:54

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The end of January brought significant changes in the capital distribution among spot SOL ETF funds. The net flow map reveals a complex market picture, where investors have divided in their strategies regarding this asset. From January 26 to 30, capital withdrawals outweighed inflows, creating an overall picture of a capital exodus.

Exodus from Grayscale and Bitwise Driven by Negative Flows

According to NS3.AI data, the largest capital outflows occurred in two flagship products. Grayscale SOL Trust (GSOL) and Bitwise ETF (BSOL) became the sources of the biggest withdrawals, totaling $2.45 million from the SOL ETF ecosystem. The exodus from these two platforms suggests a pragmatic approach by investors toward their positions in this market segment.

Meanwhile, net flows during this period showed that not all market participants shared the trend of reducing exposure. Fidelity ETF (FSOL) attracted new capital, counterbalancing the dominant withdrawals from other platforms.

Market Capitalization and Position on the Market Map

The net assets of all spot SOL ETFs currently amount to $992 million, representing 1.50% of SOL’s total market capitalization. This position on the market map indicates the growing importance of ETF instruments for institutional investors, despite recent capital withdrawals. Net flows remain a key indicator of investor sentiment toward Solana and its position in speculative portfolios.

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