Solana Staking ETF BSOL Opens $55M; GSOL Lists to Boost SOL
Bitwise launched the U.S. Solana staking ETF (BSOL) on October 28, drawing $55.4 million in first-day volume and reaching $217.2 million in assets under management. The Solana staking ETF targets 100% staked SOL exposure and aims for around 7% average annual staking rewards. Grayscale’s Solana Trust ETF (GSOL) began trading on NYSE Arca on October 29, offering similar staking returns. SOL dipped to $195.34 before recovering to around $195.58, underperforming the broader market and trading at volumes 44% below its weekly average. Short-term technical levels to watch include support at $194–$195 and resistance at $196.50–$197 and $200. On the weekly chart, a breakout above $205 could validate a bull flag pattern and pave the way toward $280 and potentially $400–$500, backed by JPMorgan’s forecast of $3–$6 billion in first-year inflows. Institutional inflows into these new staking products may boost liquidity and sustain SOL demand.
Bullish
The launch of Bitwise’s BSOL and Grayscale’s GSOL introduces regulated, 100% staked SOL exposure with attractive ~7% yields, which is likely to draw institutional capital and enhance market liquidity. Short-term SOL price underperformance and muted volume suggest caution, but key technical thresholds—breakouts above $205 and $280—could trigger substantial rallies. JPMorgan’s $3–$6 billion inflow projection underscores long-term demand, and the weekly bull flag pattern supports sustained upside. Overall, the combined effect of ETF listings, staking rewards and potential inflows points to a bullish outlook for SOL.