Investment advisors were the biggest buyers of the US-based spot Solana ETFs at over $270 million, while hedge fund managers came in next at $186 million.
Silicon Valley-based venture capital firm Electric Capital and investment bank Goldman Sachs were the two largest buyers of spot Solana exchange-traded funds, which launched for trading in the US in October last year.
Data shared by Bloomberg ETF analyst James Seyffart on Monday shows that the top 30 institutional holders of US spot Solana (SOL) exchange-traded funds bought more than $540 million worth of ETFs during the quarter.
Electric Capital and Goldman Sachs held the top two positions with $137.8 million and $107.4 million worth of Solana ETF exposure, while Elequin Capital, SIG Holding and Multicoin Capital rounded out the top five.
Morgan Stanley and Citadel Advisors were among the other notable institutions that bought spot Solana ETFs after Bitwise launched the first Securities and Exchange Commission-approved spot Solana ETF on Oct. 28.
Top 15 largest institutional holders of Solana ETFs based on 13F filings. Source: James SeyffartSeyffart’s data comes from 13F filings submitted to the SEC in mid-February, which require institutions managing more than $100 million in assets to disclose their holdings.
Investment advisers accounted for the largest share of spot Solana ETF at over $270 million, while hedge fund managers came in next at $186.4 million.
Holding companies and brokerage firms held $59.5 million and $20.3 million, while banks held $4.5 million.
Split of Solana ETF holders by institution type. Source: James SeyffartThe $540 million in Solana ETF holdings was backed by approximately 4.3 million SOL tokens.
However, those 4.3 million SOL tokens have fallen over 30% in market value since the end of Q4, from $124.95 to $86.53 at the time of writing.
SOL ETF net flows steadying despite price fall
Bloomberg ETF analyst Eric Balchunas noted on Thursday that cumulative flows into spot Solana ETFs have held strong in recent months despite Solana’s price fall.
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Balchunas also noted that 50% of Solana ETF assets are held by these 13F-filing firms, arguably making for a more serious investor base.
Farside Investors data shows that US spot Solana ETFs have accumulated $952 million worth of inflows since launching in the US.
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Source: https://cointelegraph.com/news/financial-institutions-bought-540m-solana-etfs-q4?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
