Bitwise’s Solana staking ETF surpasses $1 billion in assets

  • Bitwise’s BSOL Solana staking ETF surpassed $1 billion in assets under management.
  • $1 billion was reached exactly 10 months after BSOL launched.
  • Solana joined Bitcoin and ether as the only crypto assets with billion-dollar ETFs.

Bitwise’s Solana staking ETF (fund holding Solana while earning network rewards), BSOL, has surpassed $1 billion in assets under management 10 months after launch. The milestone places Solana alongside Bitcoin and ether as the only three crypto assets with ETF products above $1 billion, Bitwise CEO Hunter Horsley said. U.S. Solana ETFs collectively hold about $1.43 billion, or roughly 2.35% of SOL’s market capitalization, while Bloomberg ETF analyst Eric Balchunas cited about $1.7 billion in cumulative category flows and little evidence of sustained withdrawals. SOL has climbed roughly 46% this month, stands about 80% above its June low, and has returned above $100, lifting its market capitalization beyond $60 billion. Charles Schwab said on Aug. 27 that it plans to add spot trading for Solana, Avalanche and Chainlink to Schwab Crypto in the coming months. Bitwise said much of BSOL’s capital arrived during a bear market, which it characterized as evidence of continued investor exposure during a difficult first half for digital assets. The combination of ETF growth and direct brokerage access could expand Solana’s reach among traditional investors who do not want to manage tokens or wallets themselves.

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Bitwise’s Solana staking ETF surpasses $1 billion in assets - CoinPost Terminal