Solana Attracts Investor Interest as Bitcoin and Ethereum ETFs See Redemptions

Solana’s recent surge in investor interest, attracting $369 million in inflows this month despite substantial redemptions from Bitcoin and Ethereum ETFs, highlights a shift in the crypto market. Cointelegraph reports that investors are increasingly viewing Solana as a yield-generating asset rather than a speculative trade. This is due to its native staking rewards of 5% to 7%, which outshine the benefits offered by current Bitcoin and Ethereum ETFs, according to Bohdan Opryshko, co-founder and COO of Everstake. Opryshko notes this trend signifies a growing preference for yield-bearing exposure. While Solana’s price has traded between $100 and $260 this year, the network’s total staked supply increased from 350 million to 407 million SOL. Retail delegators jumped from 191,179 to 194,157 between October 30 and November 24, adding over 238,000 SOL during the market downturn. Institutional investors remain active with whale delegates consolidating rather than exiting, maintaining steady stake levels despite a decline in numbers. Trezor users alone staked over 1 million SOL through Everstake during the month. Opryshko suggests that crypto investing is bifurcating, with a growing segment seeking yield-generating assets like Solana’s staking for income, while others continue to chase speculative trading opportunities. Sebastien Gilquin, head of business development and partnerships at Trezor, emphasizes that Solana boasts one of the strongest staking profiles among major proof-of-stake blockchains, with 67% of all circulating SOL staked. This trend indicates a shift toward productive assets as traditional yields become less lucrative. Solana-based ETFs attracted over $420 million in their debut week last month, signaling strong investor interest for liquid products offering native staking returns. This shows the growing appetite for both speculative and income-generating opportunities within the crypto market.