Currently, in the cryptocurrency market, the Spot Solana ETF continues to attract investors’ interest amid the “capital rotation” from Bitcoin and Ether funds, with Bitcoin ending October with a monthly decline of 3.69% for the first time in seven years. Meanwhile, US Treasury Secretary Scott Bessent praised Singapore’s approach to digital asset regulation.
Amid “capital rotation” from Bitcoin and Ether funds, Solana ETF is expected to receive capital inflows for the fourth consecutive day
The Spot Solana exchange-traded fund (ETF) continues to attract investor interest, posting a fourth consecutive day of inflows amid “capital rotation” from Bitcoin and Ether funds.
The Spot Solana (SOL) ETF added $44.48 million on Friday, bringing total inflows to $199.2 million and total assets to more than $502 million, according to SoSoValue data. The Bitwise Solana ETF (BSOL) led the way, accounting for the bulk of the new money with a daily gain of 4.99%.
In contrast, the Spot Bitcoin (BTC) ETF recorded net outflows of $191.6 million per day on the same day, continuing its trend of profit taking for a week. The fund had outflows of $488.43 million on Thursday and $470.71 million the previous day.
The Spot Ether (ETH) ETF also recorded outflows of $98.2 million, reducing cumulative inflows to $14.37 billion. The funding decreased by $184.3 million on Thursday and $81.4 million on Wednesday.
Bitcoin ends October in the red, but enters its biggest month of gains
Bitcoin entered November as its strongest month of gains in history, with an average gain of 42.51% since 2013. So, if history is anything to go by, Bitcoin could top $160,000 this month.
However, one cryptocurrency analyst pointed out that several macroeconomic factors are also at play.
“I think seasonal charts are very important, but they have to be combined with many other factors,” said Markus Thielen, crypto analyst at 10x Research.
Looking ahead, there are expectations that the US Federal Reserve will further lower interest rates, and the US and China are working on a trade deal. Both developments could be advantageous for Bitcoin.
But the government shutdown and U.S. tariffs have added to the economic uncertainty.
Scott Bessent praises Singapore’s adoption of cryptocurrencies
US Treasury Secretary Scott Bessent praised Singapore’s proactive approach to digital asset and stablecoin regulation, highlighting what he described as a model for effective and safe innovation in financial technology.
Speaking at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, Bessent met with Singapore Prime Minister Lawrence Wong to discuss financial cooperation and the future of digital finance.
Bessent highlighted Singapore’s forward-looking regulatory regime and said the two sides discussed “expanding the adoption and use of digital assets and USD stablecoins,” according to the report.
Mr. Bessent also told APEC leaders that through continued efforts to strengthen America’s industrial and technological capabilities, the country is seeing “record levels of capital being invested in advanced manufacturing and technology sectors.”
This statement reflects the Trump administration’s mission to pursue prudent digital asset regulation while balancing innovation and financial stability.
