## Where is Institutional Capital Migrating? Solana ETFs Attract Millions While Bitcoin and Ethereum Lose Momentum

Flows in ETF funds over the past week paint an interesting picture of changing strategies among major investors. Solana clearly steals the show, attracting fresh capital, while giants Bitcoin and Ethereum experience outflows. This doesn’t indicate panic – rather, a shift in institutional calculations about where to seek growth.

## Solana Breaks Into the Leading Position

In the last seven days, Solana ETFs recorded a net inflow of 169,556 SOL, approximately $20.69 million of fresh capital. The current involvement totals 7.8 million SOL worth about $953 million. This shows that major players are increasingly viewing the Solana ecosystem as an alternative to traditional positions.

Inflows were spread among several issuers – Fidelity brought in 76.8K SOL, Grayscale added 34.2K, Bitwise contributed 32.4K, and VanEck invested 26.1K. This distribution suggests it’s not speculation by a single entity but a broader trend within the institutional environment.

## Bitcoin Under Pressure, Ethereum Awaiting Decision

Unlike Solana, Bitcoin is experiencing a significantly weaker period. The weekly outflow from Bitcoin ETFs amounted to 7,015 BTC – roughly $610 million. The daily outflow is another 309 BTC (26.9 million). Although the total ETF involvement remains substantial – 1.3 billion BTC – there is still visible pressure to exit.

BlackRock's IBIT continues to dominate with 772K BTC in its portfolio but recorded a weekly outflow of 4.7K BTC. Fidelity and Grayscale also show withdrawals, albeit smaller. This suggests that institutions are not completely closing positions but systematically reducing them.

Ethereum appeared calmer that day – zero net movement on December 26 – but over the past week, 34.7K ETH (about $101 million) leaked out. Total involvement stands at 6.08 million ETH worth $17.6 billion. An exception was Grayscale, which recorded an inflow of 13.4K ETH – possibly a tactical shift between funds.

## What Scenario Emerges From These Flows?

Data indicates something important: institutions are not lacking faith in cryptocurrency but are seeking more efficient capital allocation. Instead of massive outflows from the entire asset class, we see selective shifting – from less dynamic positions to more promising ones.

With active network engagement and developing applications, Solana is becoming increasingly attractive to managers seeking growth outside the standard Bitcoin-Ethereum combinations. Bitcoin and Ethereum may be perceived as more “defensive” or “oxidizing,” hence less attractive in the current cycle.

If this trend continues, we can expect further diversification of institutional portfolios and a strengthening of Solana’s position in the ecosystem. At the same time, the fact that large investments in BTC and ETH still persist suggests a long-term perspective – these are not sell-offs in panic but rebalancing.

2026 could be a turning point where ETF flows become more dispersed among several major players instead of focusing on two giants.