Solana ETF Defies Market Slowdown as Bitcoin and Ethereum Face Heavy Outflows

Solana’s BSOL ETF led trading with $197M inflows, contrasting Bitcoin and Ethereum’s multi-day ETF outflows.

Bitcoin ETFs saw $543.59M in outflows, while Ethereum ETFs lost $210.43M, both led by BlackRock reductions.

Tron network activity surged in October, with DEX volume up 174% and active addresses reaching 87.72M.

Crypto markets faced mixed trends this week as Bitcoin and Ethereum ETFs recorded large outflows while Solana saw renewed investor interest. According to Lookonchain data, Bitcoin ETFs reported a combined net outflow of $543.59 million from Wednesday to Friday, reflecting waning institutional demand amid stronger equity market performance

Ethereum ETFs also saw continued pressure, losing $210.43 million over the same period. However, Solana stood out as a rare bright spot, drawing significant inflows that suggest shifting investor appetite within digital assets.

Solana ETF Gain Amid Crypto Weakness

Market analyst Lark Davis noted that while most crypto ETFs have gone quiet, Solana’s performance has drawn attention. Bitwise’s Solana ETF, BSOL, became the biggest ETF launch of the year by trading volume, ending the week with $197 million in net inflows

This surge came even as broader digital asset ETFs saw steady declines. Davis highlighted that the activity around Solana ETFs indicates that investor confidence in certain segments of the crypto market remains strong, despite the overall slowdown in Bitcoin and Ethereum related funds.

Notably, Bitcoin ETFs recorded outflows totaling 4,970 BTC in the last week of October. Data from Lookonchain showed that BlackRock accounted for 2,724 BTC of that figure, equivalent to roughly $297.93 million

The firm still holds 802,811 BTC valued at approximately $87.81 billion. Ethereum ETFs followed a similar pattern, with BlackRock offloading 31,754 ETH worth $121.94 million, leaving its holdings at 4,002,725 ETH, valued at $15.37 billion.

Broader Market Trends Show Diverging Momentum

The divergent ETF activity came as equities continued to outperform cryptocurrencies, drawing capital away from digital assets. According to Davis, crypto markets are currently being overshadowed by stock market gains, limiting short-term trading enthusiasm. However, the strong Solana inflows suggest investors are not entirely retreating from the sector but reallocating within it.

In contrast to the ETF activity, on-chain growth in other networks also painted a different picture. Lookonchain data showed that Tron saw major expansion in October, driven by sharp gains in decentralized exchange and perpetual futures trading volumes.

Tron Network Posts Strong Monthly Growth

According to Lookonchain’s October update, Tron’s DEX volume surged 174.39% month-over-month to $3.04 billion, while perpetual trading volume rose 3.47% to $2.45 billion. The network’s active addresses grew 13.42% to 87.72 million, and transactions increased 9.09% to 304.34 million

These figures show that despite ETF outflows in Bitcoin and Ethereum, blockchain activity across select networks like Solana and Tron continues to strengthen, reflecting ongoing user engagement and ecosystem growth within the broader crypto sector.

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