Bitwise Solana ETF surpasses $1 billion in assets under management

Bitwise’s Solana Staking ETF (BSOL) has become the first Solana-focused exchange-traded fund to surpass $1 billion in assets under management. This milestone was achieved less than a year after the fund's launch, driven by significant institutional interest and increased trading activity.

On a recent Friday, BSOL recorded a single-day trading volume exceeding $126 million, marking its strongest performance to date. The fund has seen net inflows for seven consecutive trading sessions, bringing total cumulative inflows into Solana-related ETF products to approximately $1.26 billion. This amount represents roughly 2.2% of Solana’s current market capitalization.

Institutional accumulation is also occurring through direct purchases. DeFi Dev Corp recently acquired an additional 19,000 SOL, valued at approximately $1.86 million, bringing its total holdings to roughly 2.33 million SOL, worth about $182 million. This surge in ETF and direct investment coincides with a period of high volatility and a recent 19% weekly gain for the SOL token.