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Goldman Sachs and Electric Capital lead investors in Solana ETFs
Institutional investors continue to show interest in Solana despite the decline in the token’s price in recent months. New data on ETF holders indicates that major financial firms are actively building positions in exchange-traded funds linked to SOL.
These are spot ETFs based on Solana that began trading in the United States last fall. Their launch marked one of the first appearances on the U.S. market of exchange-traded funds focused on blockchain platforms beyond Bitcoin and Ether, Cointelegraph reports.
Major funds among key investors
According to Bloomberg ETF analyst James Seyffart, the 30 largest institutional holders of Solana ETFs purchased more than $540 million worth of these funds over the quarter. The data is based on 13F filings, which investment firms with more than $100 million in assets must submit to the U.S. Securities and Exchange Commission.
The largest investor was venture firm Electric Capital, which invested about $137.8 million. Goldman Sachs ranked second with positions worth roughly $107.4 million. Other major investors include Elequin Capital, SIG Holding, and Multicoin Capital.
Other institutional participants that acquired stakes in the funds include Morgan Stanley and Citadel Advisors. Interest from these investors emerged after Bitwise launched the first SEC-approved spot Solana ETF on Oct. 28.
Data shows that investment advisers hold the largest share of assets, with more than $270 million invested. Hedge funds follow with about $186.4 million, while holding companies and brokerage firms control roughly $59.5 million and $20.3 million respectively. Banks account for around $4.5 million.
Price falls but institutional demand persists
Investments totaling more than $540 million correspond to approximately 4.3 million SOL tokens. However, the value of these assets has declined along with the broader market correction. Since the end of the fourth quarter, the price of Solana has fallen from about $124.95 to $86, a drop of more than 30%.
Despite this, inflows into the funds have remained relatively steady. Bloomberg ETF analyst Eric Balchunas noted that “50% of the assets are from 13F filers” According to him, this may indicate the formation of a more stable investor base.
According to Farside Investors, about $952 million has flowed into U.S. spot Solana ETFs since their launch. For the market, this signals that institutional interest remains even during periods of price correction.
The presence of investors such as Goldman Sachs, Morgan Stanley, and major venture funds suggests that Solana is gradually becoming part of diversified crypto portfolios used by institutional investors. This could influence the further development of ETF products tied to alternative blockchain ecosystems.
Read also: SoFi launches direct SOL deposits in move to integrate Solana with banking system
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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