Bitwise Unloads $107M on Solana as Institutional Interest Rises
Bitwise Asset Management has made significant purchases of Solana in recent days. According to data from Arkham Intelligence, the firm bought approximately $107.4 million worth of SOL over a period of 20 trading sessions. This substantial purchase comes as institutional investors are taking advantage of Solana's relatively low price to gain access to its investment product.
The Bitwise Solana ETF has seen steady inflows during this time, with only two sessions experiencing outflows. As a result, the fund's holdings have grown significantly, with Bitwise now holding over 9,030,000 SOL. With Solana's current trading price around $101, the firm's holdings are worth approximately $918 million.
Bitwise is nearing a major milestone in its Solana holdings, with its current value approaching $1 billion. This growing interest in Solana from institutional investors suggests that the asset may continue to see increased demand.