The anticipation of spot BTC ETFs have everyone feeling bulled up this week — and it’s not just your average crypto enthusiast driving all the action.
Fund flows into crypto-based products have surged the last few days, pushing weekly total inflows above $120M, or one-third of total YTD flows, according to data tracked by Bloomberg.
BTC-based funds are leading the charge, but they’re not the only ones.
The 21Shares Solana Staking ETP (ASOL) is right up there at the top of the pack too, ranking 2nd in net monthly flows.
We haven’t seen inflows like this since SOL’s massive price run up in 2H 2021.
We noted last week how SOL looked ripe for a breakout — and it was.
SOL has exhibited a strong breakout against ETH too.
But what’s really telling is its breakout against the industry juggernaut, despite BTC’s recent 25% pop. SOLBTC is certainly a chart to watch.
We highlighted in our Ghosts of Cycles Past report how SOL reminds us of ETH last cycle. If that turns out to be the case, SOL still has a lot of room in front of it…
