Bitwise Launches Solana Staking ETF in the U.S.
The Bitwise Solana Staking ETF (BSOL) debuted this week on U.S. exchanges. It is the first exchange-traded product (ETP) in the U.S. to offer 100% direct exposure to spot Solana (SOL).
BSOL attracted about $69.5 million in net inflows on its first day, according to data from farside. The ETF features a built-in staking system that stakes all Solana holdings. Investors can receive potential staking rewards of around 7% annually.
Strong Initial Demand
The rapid trading volume shows demand from both institutional and retail investors. The $69.5 million inflow highlights bullish sentiment toward Solana and its native token, SOL, often seen as a competitor to Ethereum.
The ETF experienced one of the most successful first four-hour trading periods for a non-Bitcoin crypto ETP in the U.S. This launch may help establish Solana as the third major asset in institutional crypto portfolios.
Market Impact and Future Outlook
The U.S. launch follows growing global interest in Solana products. Similar ETPs have recorded high single-day trading volumes in other markets.
Analysts view the new Solana ETF as a key event in the expanding crypto ETF space. Its debut may signal a competitive race for approvals of the next major crypto ETFs, reflecting a diversifying digital asset landscape.
