Bitwise Solana ETF Hits $1 Billion as Institutional Demand Surges

Bitwise's Solana Staking ETF (BSOL) has reached $1 billion in assets under management, marking a significant milestone for the fund just over a year after its launch.

This achievement comes amidst a surge in activity across both the Solana ETF market and the underlying token SOL. BSOL recorded a trading volume of over $126 million on Friday, its strongest single-day performance to date, with cumulative inflows into Solana products totaling approximately $1.26 billion.

This represents roughly 2.2% of SOL's current market capitalization, highlighting the growing scale of exchange-traded demand relative to the underlying market.

Outside the ETF market, institutional accumulation has continued, with DeFi Dev Corp purchasing another 19,000 SOL for approximately $1.86 million, taking its holdings to around 2.33 million SOL worth approximately $182 million based on current prices.