Bitwise’s BSOL drew $267.1 million of net new capital in the first half of 2026, but a sharp drop in Solana left the fund with $592.3 million of net assets at June 30, down from $641.3 million at the start of the year. The Aug. 7 filing, covering Jan. 1 through June 30, is the first half-year financial report by a U.S. Solana ETF under standardized SEC accounting. SOL’s reference price fell from $123.88 on Dec. 31, 2025 to $73.51 on June 30, driving $262.9 million in unrealized depreciation and $70.9 million in realized losses. Staking income softened part of the decline: BSOL reported $19.2 million in gross staking rewards, and $17.7 million in net investment income after $1.75 million of fund expenses. The fund’s net asset value per share fell from $16.37 to $10.01, for a total return of -38.85% at NAV, even as its share count rose from 39.18 million to 59.20 million and its SOL holdings increased from 5.15 million tokens to 8.05 million. Bitwise says BSOL stakes 100% of assets through Bitwise Onchain Solutions in partnership with Helius, allowing rewards to compound into NAV rather than being paid out as dividends. With $592.3 million of net assets at midyear, BSOL was the largest of the six U.S. Solana ETFs, and its filing offers the clearest picture yet of how investor inflows and staking yield interacted with a falling SOL market.