Crypto
Bitwise Solana ETF Sees Capital Influx, But Operational Losses Bite
The Bitwise Solana ETF, BSOL, saw a net increase of $267.1 million in share transactions during the first half of 2026.
Despite this significant influx of capital, the fund's total net assets at the end of June stood at $592.3 million, down from $641.3 million at the end of December.
The decline in net assets can be attributed to a substantial operational loss of $316.0 million during the six months, which far outweighed the increase in capital.
The majority of this loss came from mark-to-market losses on the fund's Solana holdings, with unrealized depreciation totaling $262.9 million and realized losses reaching $70.9 million.