Institutional Flows: ETFs and DATCOs
SOL ETP inflows totaled $18.9M in June, slowing sharply from $110.6M in May, an 82.8% MoM decline. Following strong inflows in May, inflows in June returned to lows only slightly higher than April’s $17.8M number. However, it is important to note that this inflow figure occurred in the same month when BTC ETPs saw their worst monthly outflows since inception. BTC ETPs shed over $4.3B in the month of June.
On a market cap adjusted basis, June SOL ETP inflows amounted to 0.04% of SOL’s market cap. Following a strong May, where SOL ETPs saw inflows equal to 0.25% of its market cap, June represents a meaningful decline in inflows.
By contrast, Solana DATCO holdings were largely unchanged for a ninth consecutive month, constrained by limited secondary liquidity and persistent mNAV discounts. DATCOs trimmed about 8k SOL tokens from May to June, bringing aggregate holdings to 16.8M SOL.
Network Health
Governance Tooling Goes Live
Blockworks Intel