Altcoin ETF season? Solana and XRP funds resist the cryptocurrency market sell-off

Against the backdrop of spot Bitcoin and Ether ETFs experiencing their largest outflows since launch, two new altcoin ETF products have stood out with a completely opposite trend.

According to data from aggregator SoSoValue, since their official listing, the Solana (SOL) and XRP ETFs have yet to record a single day of outflows. This has made these two ETFs rare bright spots amid an ETF landscape awash in red.

Notably, capital inflows into these funds have continued to surge. Specifically, spot ETFs based on Solana have attracted nearly $500 million in net inflows, while XRP ETFs have recorded a total of $410 million in net inflows since launch.

DCapital inflows into Solana ETF in November | Source: Farside Investors

This divergence comes as the market is experiencing the longest and most severe outflow streak in history for spot Bitcoin (BTC) and Ether (ETH) ETFs. While flagship products are seeing continuous large-scale redemptions, steady inflows into the new ETFs point to significant investor confidence and interest in assets beyond the two largest cryptocurrencies.

XRP and Solana ETFs continue to see inflows amid volatile market conditions

This past Thursday, Bitwise Asset Management officially launched its XRP ETF under the ticker “XRP,” attracting up to $105 million on its first trading day, according to SoSoValue data.

Additionally, Canary’s XRPC fund added another $12.8 million on the same day, bringing total inflows to $118 million. Canary CEO Steven McClurg congratulated Bitwise and affirmed his continued support for his competitor despite direct competition in the market.

Canary has also played a key role in maintaining stable inflows into the XRP ETF, currently holding the record for the largest single-day inflow with $243 million into XRPC on November 14.

Solana-based ETFs have also shown impressive resilience, continuously recording daily inflows despite negative overall market trends. This week, SOL ETF products have attracted between $8.26 million and $55.61 million per day, with November 19 marking the highest inflow.