Amid the second wave of crypto-based Exchange-Traded Funds (ETFs), Solana (SOL)-based investment products have been leading the charge, fueled by strong demand despite the recent market volatility. As a new group of investment products based on the altcoin hits the market and SOL\u2019s price starts to recover, some suggest that a rebound could be underway.<\/p>\n
The second wave of Solana ETFs has arrived in the market after the successful launch of SOL-based investment products. On Monday, VanEck debuted<\/a> its Solana ETF (VSOL) on Nasdaq, becoming the third investment product based on the altcoin to launch over the past month.<\/p>\n According to the announcement, the firm is waiving its 0.30% fee on the first $1 billion in assets under management (AUM) or until February 17, 2026. Meanwhile, its third-party staking provider will also waive its fee for staking services under the same conditions.<\/p>\n Adding to the momentum, Fidelity and Canary Capital launched<\/a> their FSOL and SOLC ETFs on Tuesday, after recently filing 8-A forms with the Securities and Exchange Commission (SEC). Senior Bloomberg analyst Eric Balchunas noted that Fidelity is \u201ceasily the biggest asset manager in this category with BlackRock sitting out,\u201d adding that it is \u201cGame on\u201d with the other launches.<\/p>\n Meanwhile, Nate Geraci also highlighted<\/a> the new launch, but expressed surprise that BlackRock is \u201csitting this one out\u201d as many anticipate a successful performance. Notably, Bitwise and Grayscale debuted their BSOL and GSOL ETFs at the end of October, registering a record-breaking performance since their launch.<\/p>\n Farside Invest data shows that SOL-based investment products have recorded over $390 million in inflows, with 15 consecutive trading days of positive net flows, signaling strong institutional demand<\/a> for the products.<\/p>\n In a Tuesday X post, Bitwise\u2019s CEO, Hunter Horsley, noted<\/a> BSOL\u2019s positive performance despite the market correction, affirming that \u201cprices are in the eye of the beholder.\u201d \u201cETF investors continue to buy the dip. Grateful for the trust in Bitwise to steward investor assets,\u201d he added.<\/p>\n Amid the Tuesday launches, SOL\u2019s price bounced 8.4% from its five-month low of $128, recorded on Monday. The cryptocurrency has declined 12% over the past month, losing crucial levels during the market correction<\/a>.<\/p>\n However, Bybit recently suggested<\/a> that the newly launched investment products could reshape \u201cits price trajectory and market structure for years to come.\u201d In a recent report, the crypto exchange\u2019s analysts noted that the altcoin joined Bitcoin (BTC) and Ethereum (ETH) as one of the few digital assets with regulated brokerage access in the US.<\/p>\n This \u201crepresents a structural shift in how SOL is accessed, traded and perceived,\u201d significantly expanding SOL\u2019s investor base and confidence. \u201cIf historical patterns hold, Solana could be on the cusp of a multi-quarter rally that redefines its position in the crypto hierarchy,\u201d the exchange affirmed.<\/p>\nInstitutional Demand To Fuel SOL\u2019s Rebound?<\/h2>\n