Solana Vs. XRP: ETF Net Flows Reveal the Clear Winner for 2025
Forget the hype—follow the money. The latest ETF flow data cuts through the noise, revealing which blockchain contender is pulling institutional capital while the other struggles to keep pace.
Follow the Institutional Trail
Net flows don't lie. One of these assets is seeing consistent, positive ETF inflows—a signal that big money views it as a core holding. The other? Its flow picture tells a different story, raising questions about its current narrative with traditional finance gatekeepers.
The Liquidity Litmus Test
ETF performance acts as a brutal, real-time referendum on market sentiment. Strong, sustained inflows build a liquidity moat that attracts more capital, creating a powerful flywheel. Weak or negative flows do the opposite—they're a leak in the hull that even the most charismatic founder can't plug with promises alone.
Winner Takes Most
In the race for legitimacy, being second place often means you're just the first loser. The data suggests a winner is emerging, not on social media buzz, but on the cold, hard spreadsheets of asset allocators who still think a 'basis point' is something you earn, not something you tweet about.
Solana ETFs See Largest Outflow Yet
Solana has entered a surprising phase of turbulence as its recently launched US Spot ETF struggles to maintain momentum after weeks of inflows. The latest data from Sosovalue reveal a sizable setback with a fresh withdrawal of $32.19 million, marking the third and largest outflow recorded since the investment product debuted in late October 2025.
The outflow, registered on December 3, came as a major surprise, especially given that the broader crypto market had been enjoying a slight reprieve from the bearishness weighing it down. Notably, Sosovalue’s data shows that the entire solana ETF outflow originated from the 21Shares TSOL offering, which shed $41.79 million in a single session. Minor inflows into the remaining six Solana ETFs had softened the blow, reducing total outflow to $32.19.
Since the launch of Solana ETFs, TSOL has been responsible for all negative flows posted, including the $13.55 million pullback on December 1 and the $8.10 million decline in late November. Across all sessions, 21Shares Solana ETF has now seen total outflows reach $101.51 million.
The weakness in TSOL stands in sharp contrast to Bitwise’s Solana ETF, BSOL. BSOL continues to outpace other investment products, with impressive cumulative inflows of $580.72 million, making it the most successful Solana ETF. Grayscale’s GSOL follows at a distant $89.01 million. Overall, the net cumulative inflows for the Solana ETF have reached $623.21 million. While this is impressive, it is still significantly behind the XRP ETF.
XRP Overtakes Solana ETF As It Nears $1 Billion Inflows
The latest on-chain numbers show the XRP ETF pulling ahead of the Solana ETF with surprising speed and volume. Analyst Neil Tolbert highlighted the rise in XRP ETF inflow this week, noting that growing institutional interest indicates the trend is only getting started. With more XRP ETFs expected to debut soon, Tolbert anticipates a significant rise in demand and inflows as traditional finance finally wakes up.
Five Spot XRP ETFs collectively hold more than $984 million in assets, with less than $16 million to reach the $1 billion inflow milestone. Canary Capital’s XRPC leads with $358.88 million, followed by Grayscale’s GXRP, Bitwise’s ETF, Franklin Templeton’s XRPZ, and finally REX-Osprey’s XRPR.
According to SosoValue, the total XRP ETFs, excluding that of REX-Osprey, have attracted approximately $887.12 million in net cumulative inflows. Since its launch in November, the XRP ETF has recorded 15 days of positive inflows, in stark contrast to Solana ETFs, which have seen multiple outflows.
Despite Solana launching seven ETFs as early as October 2025 and XRP only introducing four last month, XRP ETFs have already surpassed Solana ETFs in total inflows by almost 30%. With fewer products and a later debut, XRP has emerged as the clear winner amongst the newest ETF entrants in 2025.
