Solana ETFs Bleed $5.9 Million for Fifth Straight Session

U.S. spot Solana (SOL) exchange-traded funds bled $5.9 million in net outflows on Nov. 11, marking the fifth consecutive trading session of withdrawals and pushing the five-day total to $52 million, according to daily fund-flow data.

Two funds accounted for the entire day's damage. FSOL saw $3.8 million leave, while MSOL lost $2.1 million. No other product in the suite recorded a single dollar of movement: BSOL, VSOL, TSOL, SOEZ and GSOL each posted zero net flow.

Notably, not one spot Solana ETF logged an inflow on the day. The $5.9 million total was also a step down from the prior session — Nov. 10 saw $13.4 million in net outflows, more than double the latest figure.

How deep does the outflow streak run?

The current stretch of red covers five trading sessions: Nov. 5, Nov. 6, Nov. 9, Nov. 10 and Nov. 11. Across that window, investors pulled a combined $52 million net from the products.

The five-session run sits on top of an earlier, longer drawdown. The category endured an eight-session outflow streak that ran through Oct. 14, meaning the Nov. 5–11 stretch is the second extended withdrawal period in roughly a month.

Despite the sustained pressure, the broader picture remains firmly positive on a cumulative basis. Net flows since the funds launched still stand at $1,408.0 million — roughly $1.4 billion in net creations — even after the recent $52 million exit.

What does the flow mix tell us?

The concentration of withdrawals matters as much as the headline number. With FSOL and MSOL responsible for 100% of Nov. 11 outflows and the remaining five funds flat, the selling looks narrow rather than category-wide.

A zero-flow day across five of seven products cuts both ways. It signals an absence of redemption pressure, but it also shows no appetite for fresh entries — the market for spot Solana exposure is, at least for now, waiting rather than allocating in either direction.

The deceleration from $13.4 million to $5.9 million in daily outflows suggests the withdrawal wave may be losing force. Whether the sixth session on Nov. 12 breaks the streak or extends it will show if that slowdown holds.