Bitwise Solana Staking ETF Becomes First SOL Fund Past $1B
BSOL crossed $1 billion in assets about ten months after launch, capturing nearly 80% of cumulative flows into US spot Solana ETFs, per Farside data.
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- SOL $96.38 −5.55%
The Bitwise Solana Staking ETF (BSOL) has become the first US spot Solana exchange-traded fund to cross $1 billion in assets under management, roughly ten months after the fund began trading in late October 2025, according to Glassnode data reported by The Defiant.
The milestone marks a turning point for the young Solana ETF category, which launched into a difficult market and has spent most of its life accumulating while SOL prices drifted lower.
A concentrated lead
Farside Investors’ daily flow table tracks six US Solana products. It shows BSOL with $1.0114 billion of cumulative net flows against $1.284 billion for the whole group — meaning Bitwise has captured nearly 79% of all money that has entered Solana ETFs since launch.
The concentration persisted in the latest completed session in Farside’s table: the six products took in $56.1 million on August 27, including $40.2 million for BSOL. Grayscale’s GSOL added $6.2 million and Fidelity’s FSOL $5.8 million that day.
Glassnode separately reported $138 million of Solana ETF inflows over the ten days leading into the milestone.
Why BSOL leads
Part of the answer is structural. BSOL stakes 100% of its holdings through Bitwise Onchain Solutions, powered by Helius, earning protocol rewards on top of price exposure — a yield feature the other leading products lack. Bitwise also waived its sponsor fee on the first $1 billion in assets during a three-month introductory period after launch, per the fund’s disclosures.
The product listed on NYSE Arca on October 28, 2025 with a 0.20% management fee, and Bitwise has promoted historical Solana staking yields averaging around 7%.
What this does NOT tell you
AUM is not the same as investor profit. Yahoo Finance noted that roughly $1.01 billion of cumulative net inflows have gone into BSOL, yet the fund is worth less than many investors paid — because SOL’s price fell over the period. Flows measure conviction, not returns. And one fund’s dominance of a six-product category says as much about the competitors’ smaller distribution as it does about BSOL’s merits.
The takeaway
The first $1 billion Solana ETF proves regulated demand for SOL exists even in a bear market — the bulk of BSOL’s inflows arrived while prices were falling. The open question is whether the category can now compound on that base, or whether $1 billion stands as the high-water mark until SOL’s price itself recovers.
