Bitwise Solana Spot ETF Draws $69.5M Inflows, Yields Over 7%
Bitwise launched its Solana spot ETF (BSOL) on NYSE Arca on October 29, attracting $69.5 million in first-day inflows and opening with $222.9 million in seed capital. The ETF, which recorded $56 million in trading volume in its debut session, stakes 100% of its SOL holdings, delivering an annual yield above 7% without direct wallet management. With approximately 1.358 million SOL acquired at an average cost of $198.1, BSOL’s net asset value reached $289 million (total portfolio ~$263.8 million). The 0.20% management fee is waived until the first $1 billion in inflows. By offering regulated exposure to Solana’s high-speed, low-cost blockchain and boosting SOL liquidity, the Solana spot ETF is poised to drive broader adoption and portfolio diversification among institutions and retail traders.
Bullish
In the short term, the Bitwise Solana spot ETF’s strong $69.5M inflows and significant first-day trading volume signal robust demand for regulated SOL exposure, likely supporting upward price pressure. The annual staking yield above 7% may attract yield-seeking investors, further boosting SOL’s market liquidity. Over the long term, institutional access via a regulated ETF can enhance market stability and broaden Solana’s investor base, potentially sustaining bullish momentum. The fee waiver until $1B in inflows and full staking model reinforce the ETF’s appeal, suggesting continued positive sentiment and capital inflows into SOL.