Today in crypto, Spot Solana ETFs continue to attract investor interes amid “capital rotation” from Bitcoin and Ether funds, Bitcoin ended October at a 3.69% monthly decline, the first time in seven years. Meanwhile, US Treasury Secretary Scott Bessent praised Singapore’s approach to digital asset regulation.
Solana ETFs see inflows for 4th consecutive day amid ‘capital rotation’ from Bitcoin, Ether funds
Spot Solana exchange-traded funds (ETFs) continue to attract investor interest, recording their fourth straight day of inflows amid “capital rotation” from Bitcoin and Ether funds.
According to data from SoSoValue, spot Solana (SOL) ETFs added $44.48 million on Friday, bringing cumulative inflows to $199.2 million and total assets to over $502 million. The Bitwise Solana ETF (BSOL) led the charge, contributing the bulk of new capital with a 4.99% daily gain.
In contrast, spot Bitcoin (BTC) ETFs saw $191.6 million in daily net outflows on the same day, continuing a week-long trend of profit-taking. The funds saw $488.43 million in outflows on Thursday and $470.71 million the previous day.
Spot Ether (ETH) ETFs also posted $98.2 million in outflows, reducing their cumulative inflows to $14.37 billion. The funds shed $184.3 million on Thursday and $81.4 million on Wednesday.
Bitcoin ends October in red, but now enters its biggest month for gains
Bitcoin has stepped into its historically most significant month for gains — November — with an average increase of 42.51% since 2013 — meaning Bitcoin could surpass $160,000 this month if history rhymes.
However, a crypto analyst noted that several macroeconomic factors are also at play.
“I do think seasonal charts matter a lot, but it has to be combined with a lot of other factors,” said crypto analyst Markus Thielen from 10x Research.
Looking ahead, there is an expectation that the US Fed will further lower interest rates, and the US and China are working on a trade deal; both developments could be favorable for Bitcoin.
However, the government shutdown and US tariffs continue to add to economic uncertainty.
Scott Bessent praises Singapore’s crypto adoption
US Treasury Secretary Scott Bessent has praised Singapore’s proactive approach to digital assets and stablecoin regulation, highlighting what he described as a model for effective and secure 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.
According to reports, Bessent stated that the two discussed “increasing adoption and use of digital assets and US dollar stablecoins,” highlighting Singapore’s forward-looking regulatory regime.
Bessent also told APEC leaders that, through ongoing efforts to strengthen US industrial and technological capacity, the country is “seeing record levels of capital being invested into advanced manufacturing and technology sectors.”
The remarks reflect the Trump administration’s mandate to pursue sensible digital asset regulation while striking a balance between innovation and financial stability.
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