U.S. spot Solana exchange-traded funds (ETFs) recorded a record net inflow of $188 million last week, and each fund in this group attracted new capital.

Led by BSOL of Bitwise, it attracted approximately $128 million, accounting for about 68% of the total amount for the week. This product has currently garnered around $1.2 billion, which constitutes the majority of the group's cumulative net inflow of $1.6 billion.

This record-breaking influx of funds occurred during the testing of Alpenglow by the Solana developers. This upgrade aims to reduce the final confirmation time for payments from about 12.8 seconds to about 150 milliseconds.

U.S. spot Solana ETF attracted a record $188 million in capital inflows last week, while BSOL of Bitwise drew away about two-thirds of the funds, and each fund in that group recorded a net inflow.

According to the weekly data shared by the official account Solana, in the five trading days up to September 25th, BSOL attracted approximately 128 million US dollars. Grayscale followed closely, attracting 28 million US dollars, and Fidelity's FSOL drew in 18 million US dollars. Morgan Stanley, VanEck, Franklin Templeton together with 21Shares contributed the remaining 14 million US dollars.

Friday contributed nearly half of the weekly total. On that day, these funds saw a combined inflow of approximately 87 million US dollars, which is the highest amount in a single day since their launch. Among them, Bitwise attracted 56 million US dollars, and Grayscale attracted 19 million US dollars.

Spot ETF allows investors to obtain an exposure to SOL through their brokerage accounts, without the need to manage cryptocurrency wallets. Net inflow measures the amount of funds that enter the fund after deductions for redemptions, rather than the changes in the market value of shares resulting from transactions between traders.

Bitwise has always been the leader in such demands. Data shows that the company's BSOL product accounted for approximately $1.2 billion of the total cumulative net inflow of about $1.6 billion in this group, which is about 76%. Its share of 68% last week was lower than this long-term proportion, with competing funds attracting a total of about $60 million.

This buying momentum has also extended to the overall crypto funds sector. According to the daily data from Farside, American Bitcoin ETF attracted approximately $2.4 billion last week, while Ethereum products saw an increase of about $690 million.

CoinDesk Data shows that during the Asian morning session on Monday, the trading price of SOL was around $119, which is still about 60% lower than the historical high of $293.

Meanwhile, the developers of Solana are also testing Alpenglow. This upgrade aims to reduce the time required for a payment to be considered irreversible from about 12.8 seconds to about 150 milliseconds.

The upgrade was deployed into the second public testing environment of the network on Friday. The speed targets are still being pursued, and the launch date for the mainnet has not yet been announced.

For further reading:The 150-millisecond settlement upgrade of Solana has entered the second public testing network.