First Solana Staking ETF Gains Approval, Analyst Sees Institutional Potential
Bitwise’s Solana Staking ETF (BSOL) sets a 2025 record debut, marking a major milestone for institutional access to staked cryptocurrency products.
Bitwise Asset Management’s Solana Staking ETF (BSOL) debuted on October 28, 2025, achieving $56 million in first-day trading volume during a U.S. government shutdown. The launch represents the largest ETF debut of the year, with rapid volume growth hitting $10 million in 30 minutes and $33 million by midday. CIO Matt Hougan emphasized Solana’s high blockchain revenue and institutional investor appeal. Analyst Eric Balchunas underscored the record-breaking nature of BSOL’s debut compared to other crypto ETF launches. The ETF was approved via 8-A filings enabling trading despite SEC delays. Canary Capital simultaneously launched spot ETFs for Litecoin and Hedera, and Grayscale’s Solana Trust will convert to an ETF on October 29.
- Solana Staking: The process of locking SOL tokens to support network operations and earn rewards, offering a yield to participants.
- Staking ETF: An exchange-traded fund that provides investors exposure to staked cryptocurrency assets, allowing them to earn staking rewards indirectly.
- Spot ETF: An ETF that holds the underlying asset directly rather than using derivatives to track its price.