Key Insights
- Solana (SOL) Spot ETFs break net inflow streak on Nov 26 after 21 Shares offloads $34M. Net outflows for Wednesday came in at $8.1M.
- 21 Shares SOL Spot ETF (TSOL) is the first SOL Spot ETF to market net outflows. The net outflows came despite the price climbing above the crucial $135 mark.
- Franklin’s Solana Spot ETF (SOEZ) will trade on the New York Stock Exchange Arca per its Nov 25 Prospectus.
21Shares SOL Spot ETF (TSOL) broke the SOL Spot ETFs’ net inflow streak. It sold $34.37 million worth of Solana (SOL) on Wednesday, according to SoSoValue data.
Bitwise, Grayscale, and Fidelity bought Solana (SOL) yesterday. TSOL, however, recorded a $34.37 million outflow. That move pushed total SOL Spot ETF net flows to -$8.1 million.
The net outflows came in amid rising net unrealized losses among SOL holders. Analyst Ali commented that SOL tends to ‘bottom’ when investors capitulate.
SOL Spot ETFs are appealing not only because they are ETFs but also because of staking rewards. Franklin’s SOL ETF (SOEZ) will soon join the ranks of Bitwise, Grayscale, Fidelity, 21Shares, Van Eck, and Canary.
SOL ETFs Net Inflow Streak Broken on Nov 26 as 21 Shares Shed $34.37M
21Shares just found a new place in crypto market trivia. On November 26th, 21Shares (TSOL) ended the SOL Spot ETFs’ flawless run of net inflows. The streak had lasted since trading began on October 28th, 2025. SOL Futures ETFs began trading in March this year.
TSOL offloaded $34 million worth of SOL on Wednesday, adding two trivia milestones to its name. Apart from breaking the asset’s perfect net inflow streak, 21Shares (TSOL) also became the first SOL ETF to sell Solana.
Wednesday was only TSOL’s sixth trading day. The perfect run lasted 21 days, with the largest inflows being over $60 million.
Crypto analystAli highlighted a recent Glassnode chart showing SOL net unrealized profit and loss (NUPL). He noted that Solana ‘bottoms’ when investors capitulate.
The chart showed SOL NUPL just under zero. At press time, SOL was trading at $142.7, reflecting an over 3% increase intraday
Franklin Templeton’s SOL Spot ETF (SOEZ): All You Need to Know
Franklin Holdings LLC launched Bitcoin, Ethereum, and XRP ETFs in 2024 and 2025. The New York-based firm now plans a Solana ETF. It filed a prospectus with the SEC. The filing outlines its intention clearly.
Franklin aims to convert its Solana Trust. The trust will become an Exchange Traded Fund. The Franklin Solana Spot ETF will trade with the ticker symbol “SOEZ”.
The SEC approved crypto exchange-traded funds (ETPs) in January last year. Since then, major asset managers have launched several crypto ETFs.
Coinbase Custody Trust Company, LLC is the Fund’s Solana custodian, and Bank of New York Mellon will hold its cash. Meanwhile, Coinbase Crypto is the “expected” staking partner
The Fund will issue and redeem shares only in what is called “Creation Units.” A Creation Unit consists of 50,000 shares. It aims to reflect the price performance of the SOL cryptocurrency and rewards from staking the Fund’s SOL. It can stake up to 100% of its total SOL holdings.
Franklin SOL Spot ETF Proposal said that multiple staking providers could be used: “Staking Providers will be chosen based on cost, reputation, financial stability, and operational security, with a preference for Staking Providers with SOC reports and/or ISO/IEC certifications.”
The Staking Services Agreement between Franklin and Coinbase Crypto will run for two years. It begins once the shares start trading. After the end of two years, the agreement will renew “automatically”.
As of November 26th, 2025, Franklin’s three crypto ETFs collectively hold $659.78 million in net assets. Net Assets represent the total assets held in the Fund.
Franklin’s BTC Spot ETF (EZBC) holds $517.33 million in net assets. Its ETH ETF (EZET) holds $66.45 million. Franklin’s XRP Spot ETF (XRPZ) holds $76 million in net assets.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
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