21shares Solana ETF launches amid crash, but flows signal investor interest
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The 21shares Solana exchange-traded fund (TSOL) debuted with over $100 million in assets under management, signaling investor interest.
Exchange-traded product (ETP) provider 21shares launched its Solana exchange-traded fund (ETF) on Wednesday, marking the fifth SOL (SOL) ETF offering in the US.
The fund holds spot SOL and will stake its holdings to secure the blockchain network and reap rewards, according to an announcement from 21shares. Senior Bloomberg ETF analyst Eric Balchunas said:
The Solana ETFs have now taken in $2 billion as a group, with inflows basically every day, not bad considering the 'extreme fear' right now,” he wrote.
TSOL’s debut was accompanied by the launch of investment manager VanEck’s SOL ETF (VSOL) on Monday, which also features staking rewards.
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