- Bitwise Solana ETF (BSOL) recorded $69.5M in first-day inflows, 480% higher than rival SSK.
- BSOL began trading with $222.9M seed capital and reached a $289M NAV, 0.01% of Solana’s market cap.
- The ETF stakes 100% of its SOL holdings, offering over 7% annual rewards to investors.
BitwiseInvest’s spot Solana ETF (BSOL) opened trading on NYSE Arca with strong investor participation. The ETF attracted $69.5 million in first-day inflows, almost 480% higher than the $12 million recorded by REX Osprey SOL Staking ETF (SSK), marking a notable start for Solana-based investment products in U.S. markets.
Trading Debut and Investor Activity
Bitwise Solana ETF (BSOL) started trading with $222.9 million in seed capital and recorded $56 million in trading volume during its first day. Data from Farside Investors indicated that BSOL received $69.5 million in inflows on October 29, reflecting substantial interest from both institutional and retail investors.
Bloomberg senior ETF analyst Eric Balchunas described the initial seed capital as “impressive.” He commented, “Surprised they didn’t hold off tho and have it come in on Day One to get volume and flows higher.” He added that this approach makes it easier to gauge true organic demand for the fund.
Other digital asset ETFs saw lower first-day activity. Canary’s HBAR ETF recorded $8 million in trading volume, while its Litecoin ETF achieved $1 million. The comparison shows BSOL’s strong position among newly launched blockchain-based ETFs.
Fund Composition and Market Exposure
According to SoSoValue data, BSOL’s net asset value (NAV) reached nearly $289 million, representing about 0.01% of Solana’s total market capitalization. The ETF allows investors to gain exposure to Solana (SOL) without directly purchasing or managing the token.
BSOL is the first Solana staking ETF approved for trading in the United States. The fund stakes 100% of its SOL holdings and offers annual rewards above 7%. This structure enables investors to benefit from Solana’s staking yields while maintaining regulated market access.
Bitwise’s entry into the Solana ETF space reflects expanding institutional participation in blockchain-linked financial products. The successful debut of BSOL demonstrates growing market confidence in Solana’s ecosystem and its potential for continued adoption among U.S. investors.
