According to SoSoValue data, total net inflows into Solana spot ETFs on Monday were $6.78 million, of which $5.92 million went to Bitwise's BSOL. Grayscale's GSOL received $854,480.

Collectively, the funds have attracted a total of $342.48 million since launch. In just their first week, spot SOL ETFs attracted nearly $200 million.

Inflows into the U.S. spot Solana ETF significantly exceeded pre-launch expectations, which predicted lower institutional adoption due to Solana's perceived regulatory and technical risks, said Nick Rooke, Director of LVRG Research. According to him, investors view the Solana ETF as a "highly volatile" complement to the BTC and ETH ETFs, providing diversified exposure to the popular altcoin ecosystem. These investors are willing to tolerate greater volatility for potentially higher risk-adjusted returns over the cryptocurrency's growth cycle.

Going forward, sustained inflows into the ETF should provide long-term price support for SOL by reducing supply and attracting institutional capital, Rooke said.

At the time of writing, Solana was trading at $164.20. Over the past week, the altcoin has gained 3.15%.