Bitwise Solana ETF (BSOL) Breaks Records with $69.5M Inflows, $289M NAV
The Bitwise Solana Staking ETF (BSOL) made its explosive debut on the NYSE Arca last week. The fund attracted a whopping $69.5 million...
Quick overview
- The Bitwise Solana Staking ETF (BSOL) launched on NYSE Arca, attracting $69.5 million in inflows on its first day.
- BSOL's net asset value reached $289 million, significantly outperforming other ETFs like HBAR and Litecoin.
- Despite the ETF's success, Solana's price fell over 3% within 24 hours, indicating market volatility.
- The launch of BSOL reflects growing institutional interest in staking-backed crypto ETFs and signals a shift towards mainstream adoption.
The Bitwise Solana Staking ETF (BSOL) made its explosive debut on the NYSE Arca last week. The fund attracted a whopping $69.5 million in inflows on the first day, which isn’t surprising given its initial capital of $222.9 million. In fact, by Day 1, BSOL had already established a net asset value of $289 million.
In comparison, the modest trading volumes of Canary’s HBAR ETF and Litecoin ETF did about $8 million and $1 million, respectively. Bloomberg’s Senior ETF analyst Eric Balchunas had this to say: “This launch is just plain impressive – it shows there’s a lot of organic demand for Solana staking.”
Looking at the numbers, Farside Investors’ figures show that BSOL’s inflows are 480% higher than those of the REX Osprey SOL Staking ETF (SSK), which recorded a rather lackluster $12 million.
#UNUSUAL: Bitwise $SOL ETF scooped $69.5M WORTH OF SOLANA on LAUNCH DAY! 🚨💥 Institutional FOMO is HERE – BSOL crushes rivals (6x SSK's debut), stakes 100% for 7% yields! ⚡️ $SOL to $500? Grayscale GSOL drops TODAY – load up BEFORE the stampede! 🔥🚀 $SOL #SolanaETF #Cryp
— WatchSpace (@Joseph_Mga) October 29, 2025
- Launch Exchange: NYSE Arca
- Seed Capital: $222.9 million
- Day-One Inflows: $69.5 million
- NAV: $289 million
- SOL Market Cap Share: 0.01%
BSOL makes history as the first Solana staking ETF approved in the US, and it’s a big deal – offering investors the chance to rake in 7% annual staking rewards (on 100% of their SOL holdings), which is nice to see.
Investor Excitement Meets Market Price Pressure
For all the fanfare that greeted BSOL’s launch, however, Solana’s (SOL) price actually fell by over 3% in the last 24 hours. It slipped below $195 and is going nowhere fast, hovering between $191.39 and $203.83. Trading volume surged by a quarter, though, which tells you that investors are getting a bit more excited about SOL
On-chain lens noted that a high-profile whale, one who always seems to get it right, had put some big money into SOL. We’re talking $1.4 million profit from a previous BTC trade, which makes you wonder – why wouldn’t this whale carry on making money in other places, rather than putting all that cash into SOL?
Futures Market Reflects Growing Interest
Derivatives activity, however, is picking up pace. According to CoinGlass, the 4-hour SOL futures open interest (OI) ticked up by a tiny 0.22%, and total Solana futures OI rose 3% to $10.22 billion over the last 24 hours. On the Binance platform, OI jumped by 2.5%—that’s more like it. However, on the CME, it dipped a tiny 0.03%—it seems US traders might be a bit more cautious.
The Bitwise #Solana Staking ETF (BSOL) recorded the highest first-day trading volume of any crypto ETF launch in 2025, hitting about $55 million! pic.twitter.com/BzaZq55Skg
— Blacksea (@333blacksea) October 29, 2025
While SOL prices are still all over the place, the success of BSOL shows that institutional investors are increasingly interested in staking-backed crypto ETFs. It signals a shift towards the mainstream adoption of the proof-of-stake ecosystem. The fact that Bitwise has made this Solana ETF work reinforces investor confidence in the concept. And that’s great news for blockchain enthusiasts who want to see traditional finance combine with the world of blockchain yield opportunities.
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