Bitwise Solana ETF Draws Record Inflows in First Trading Week

Bitwise's Staking Solana (BSOL) exchange-traded fund (ETF) achieved a powerful market debut, drawing approximately $417 million in net inflows during its first trading week, according to Bloomberg ETF analyst Eric Balchunas. This performance placed BSOL among the top 20 ETFs across all asset classes for the week and significantly surpassed other crypto ETFs, including NEOS Bitcoin High Income ETF ($56.17 million) and Grayscale's Ethereum fund ($56 million). In contrast, BlackRock's iShares Bitcoin Trust (IBIT) experienced outflows of about $254 million. This strong initial interest suggests institutional investors are seeking regulated access to high-performance ecosystems like Solana beyond Bitcoin and Ethereum, potentially reflecting pent-up demand for altcoin ETFs. However, the Solana token (SOL) price fell over 3% during the same period, suggesting the ETF inflows may be due to asset rotation rather than new capital entering the ecosystem. Bitwise CIO Matt Hougan remains optimistic, citing Solana's growing role in stablecoin transfers and tokenized assets, supported by strong on-chain metrics showing over $40 billion in user assets on the network.

(Source：BeInCrypto)