Solana ETF Launch Sparks 5% Price Drop as $69M Flows In

The launch of Bitwise’s Solana Staking ETF attracted a substantial $69.45 million in inflows, signaling robust institutional interest in the blockchain asset. Despite this strong reception, Solana’s price experienced a notable decline of around 5%, highlighting a complex interplay between institutional buying and immediate profit-taking by investors. This trend reflects both the growing confidence in blockchain funds from institutions and short-term market dynamics.