BSOL's share price gained 5% in Friday trading as Bitwise CEO Hunter Horsley noted the fund crossed $500 million in total inflows.
Solana News
Bitwise's Solana Staking ETF has drawn $126 million in net inflows during its first full trading week, defying broader market trends that saw Bitcoin and Ethereum funds hemorrhage capital.
The BSOL fund accumulated over $545 million in total net inflows since its Oct. 28 debut on the New York Stock Exchange, including $223 million in seed investments. Data from U.K. asset manager Farside Investments shows the product attracted fresh capital for eight consecutive trading days.
BSOL's share price gained 5% in Friday trading as Bitwise CEO Hunter Horsley noted the fund crossed $500 million in total inflows. The investor demand comes as 11 spot Bitcoin ETFs shed more than $2.1 billion in assets during the same period, while nine Ethereum funds recorded $579 million in net outflows.
Solana traded at $156, down over 16% weekly despite the ETF inflows. Bitcoin declined approximately 16% since early October when it hit a record high above $126,000. Market-wide pressure stems from macroeconomic uncertainties and government shutdown concerns.
Senior Analyst Sumit Roy from Etf.com said the inflows reflect Solana's $90 billion market cap and devoted community, second only to Bitcoin and Ethereum. He projects Solana ETFs could eventually capture 5% of the token's market cap, making current $500 million inflows modest by comparison.
Roy highlighted BSOL's 100% staking feature as a key differentiator for yield-seeking investors. The NYSE certified 8-A filings that bypassed typical regulatory delays expected from the government shutdown, allowing both Bitwise and Grayscale products to launch.
Grayscale's GSOL fund captured $114 million in net inflows, mostly from seed investments. Spot Litecoin and Hedera funds from Canary began trading last week after similar Nasdaq 8-A certifications.
Bitwise removed a delaying amendment from its $DOGE ETF prospectus on Thursday, potentially enabling trading within 20 days if the SEC doesn't object. The move signals that additional altcoin funds may reach markets through the same regulatory pathway.
The funds met generic listing standards the SEC adopted in September for commodity-based trusts under the Securities Exchange Act of 1934.
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