U.S. exchange-traded funds tracking Solana (SOL) and XRP (XRP) are attracting significant investor interest, even amidst declining cryptocurrency prices. However, the investor demographics for these two products are markedly different.
Solana ETFs are experiencing stronger demand from institutional crypto investors. In contrast, XRP funds appear to be primarily favored by retail investors. This divergence was highlighted in a recent report by Bloomberg Intelligence analysts.
Approximately 49% of assets in U.S. spot Solana ETFs were identifiable through 13F filings as of December 31st, indicating substantial institutional involvement. Investment advisors and hedge funds represent the largest share of these disclosed holdings.
Solana ETFs have seen net inflows of $173 million in 2026, with cumulative inflows reaching approximately $1.45 billion since their launch. This performance is notable given Solana's price drop of over 50% since October.
Conversely, only about 16% of XRP ETF assets were identifiable through 13F filings by the end of December, suggesting a smaller institutional footprint. The majority of XRP ETF holdings are believed to be from retail investors who are not required to file these disclosures.
Despite this retail-driven demand, XRP ETFs have attracted over $1.4 billion in assets within six weeks of their November launch. The stability of these assets, even with XRP down 26% this year, suggests demand may be more directional.
These findings illustrate how newer cryptocurrency ETFs are actively developing distinct investor bases. While bitcoin funds have achieved broad institutional adoption, Solana and XRP products are carving out unique niches in the maturing crypto market.