[DigitalToday reporter Yoonseo Lee] Asset manager Grayscale has been increasing its presence in the market by buying $20.2 million worth of Solana over the past 20 days.

U.S. blockchain media outlet U.Today reported on Oct. 13 that Grayscale bought Solana through its Solana exchange-traded fund, GSOL.

The buying is drawing attention because GSOL, a newly launched product, continues to see inflows. Recent data released by Arkham Intelligence showed GSOL received steady new money in most daily trading sessions over the past month. Outflows occurred on only 1 day over the same period.

Interest is also rising because it is not long since the product was launched. GSOL is a recently launched Solana investment product, but it is being assessed as already drawing institutional demand back within the Solana spot ETF ecosystem. The fact that investor money mostly continued to flow in supports the same trend.

The gap with rival products also emerged. VanEck's VSOL ETF saw investor redemptions as market volatility increased recently. In the latest trading session, VanEck sold about $700,000 worth of SOL. This shows investors prefer GSOL over VSOL as a way to gain the same Solana exposure.

Grayscale, by contrast, did not put any selling volume on the market over the same period. Investors are watching how each investment fund responds to institutional demand for Solana and changes in the market environment. With GSOL's net inflows and VSOL's redemptions moving in opposite directions, funding preferences in the Solana ETF market are becoming clearer.

Amid this trend, Grayscale is rapidly expanding its position in the Solana ETF market. With cumulative buying over the past 20 days and steady inflows continuing, key points to watch are how much more institutional demand GSOL will absorb and whether the gap with rival products will hold.

GRAYSCALE HAS BOUGHT $20M OF SOL Grayscale's GSOL ETF has bought $20.2M of SOL over the past 20 days, with only one day of outflows in that window. VanEck's VSOL sold $700K of SOL yesterday. Grayscale sold none. Will they keep buying? https://t.co/199bugCCgu