21Shares’ TSOL triggers first net outflow day for U.S. Solana ETF market, while XRP products continue flawless inflow momentum
Solana exchange-traded funds in the United States saw their first notable reversal since launch, ending a weeks-long streak of uninterrupted inflows. According to ETF market data, the sector recorded $8.1 million in net outflows, driven almost entirely by a sharp pullback from the 21Shares Solana ETF (TSOL). The movement contrasts sharply with the strong performance of competing Solana products and highlights growing divergence within the SOL ETF landscape.
Solana ETF Market Sees First Red Day
The 21Shares TSOL ETF faced over $34 million in withdrawals in a single trading session, marking the heaviest outflow yet for a newly launched Solana product. TSOL now stands at $86 million in net assets and has accumulated $26 million in net outflows since its debut.
TSOL’s significant withdrawal was large enough to flip the entire Solana ETF category into negative territory for the day.
Despite the setback, other Solana ETFs absorbed much of the pressure. The Bitwise Solana Staking ETF (BSOL) continued to strengthen its lead with a $13.33 million single-day intake, pushing its cumulative inflows above $527 million. Meanwhile, the Grayscale Solana Trust (GSOL) added $10.42 million, and Fidelity’s FSOL saw $2.51 million in new investments.
In total, U.S. Solana ETF products now collectively hold roughly 6.83 million SOL tokens, valued at about $964 million.
XRP ETFs Extend Perfect Inflow Streak
While Solana products experienced their first setback, XRP ETFs continued an unbroken run of inflows. Recent market data shows no outflow days since launch, with cumulative inflows climbing to $643 million.
The Bitwise XRP ETF led Wednesday’s activity with $7.4 million.
Canary’s XRPC, Franklin Templeton’s XRPZ and Grayscale’s GXRP each attracted about $4–5 million in additional inflows.
Dogecoin ETFs Struggle to Meet Expectations
The debut of Dogecoin ETFs delivered a much softer performance than anticipated. The highly watched Grayscale Dogecoin Trust ETF (GDOG) produced only $1.4 million in first-day volume, well below the $11 million launch forecast by ETF analysts.
GDOG recorded $1.8 million in inflows on the second day, followed by a steep drop to $365,000, reflecting an 80% decline in investor participation.
Despite strong brand recognition, Dogecoin ETFs have yet to capture the enthusiasm seen in Solana and XRP markets.
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