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 Seyffart
Seyffart’s data comes from 13F filings submitted to the SEC in mid-February, where institutions managing over $100 million in assets are required to disclose their Q4 holdings and position sizes.
Investment advisors accounted for by far the largest share of spot Solana ETF ownership 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 Seyffart
The $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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