Last week, funds investing in digital assets recorded an outflow of $360 million after the speech by Fed Chair Jerome Powell. His hawkish comments cooled expectations for rate cuts, triggering mass sales in bitcoin ETFs. However, against the general downturn, Solana showed the opposite trend — inflows into its funds reached a record $421 million.
Fed’s hawkish signals triggered sell-offs
Investors reacted to Powell’s statement in which he emphasized that a rate cut in December is not guaranteed. The Fed Chair warned: easing too quickly could undermine progress in fighting inflation, while excessive caution could slow the economy.
The market perceived Powell’s stance as “hawkish,” which led to capital outflows from risky assets. According to CoinShares, bitcoin products lost $946 million — the largest weekly outflow since spring. This made BTC the most sensitive asset to US monetary policy.
American investors withdrew the majority of funds — $439 million. Germany and Switzerland, on the contrary, recorded moderate inflows ($32 million and $30.8 million respectively), indicating continued trust in European platforms.
Additional uncertainty was created by the lack of key macroeconomic data in the US, which heightened nervousness ahead of the December Fed meeting.
Solana goes against the trend
While most crypto funds recorded outflows, Solana was the exception. Institutional investors directed $421 million into its products, the second largest weekly inflow in the network’s history.
The surge in interest is linked to the launch of new US-based ETFs on Solana — in particular, Bitwise BSOL and Grayscale GSOL. According to SoSoValue, in the first four days after launch, the funds recorded a combined inflow of $200 million, and by the end of the week, the investment volume reached a historic high.
At the same time, bitcoin and ethereum ETFs continued to lose capital, which highlighted the contrast between traditional assets and Solana. Analysts believe investors have started to view SOL as a separate class of digital assets — with higher transaction speeds, low fees, and staking potential.
ETFs boosted institutional interest
Grayscale launched GSOL on October 29 on the NYSE, offering investors direct access to SOL and the opportunity to earn staking rewards. This distinguishes the product from bitcoin ETFs, which do not provide additional yield.
In turn, Bitwise launched BSOL, also aimed at institutions seeking a combination of liquidity and yield. These launches marked an important moment for the market — for the first time, major players received a regulated instrument to enter the Solana ecosystem.
Solana strengthens its position among institutions
By the end of 2025, the total inflow into Solana-based funds reached $3.3 billion, making it one of the fastest-growing digital assets in the institutional segment.
Experts note that steady demand confirms trust in the network’s technological advantages and its ability to scale. Despite the general market downturn, interest in Solana shows that institutions continue to seek assets with fundamental value and an active ecosystem.
What’s next?
If the Fed really slows the rate cut cycle, pressure on bitcoin ETFs may persist, while Solana funds could continue to grow thanks to diversification and a unique yield structure.
Investors see Solana as one of the few assets where innovation is combined with institutional access — a factor that can support inflows even under tight US monetary policy.
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