Solana ETF Surpasses $1 Billion as Institutional Demand Heats Up

Bitwise's Solana staking ETF (BSOL) has reached $1 billion in assets under management, marking a significant milestone for institutional exposure to SOL. This achievement comes just over a year after its launch and is part of a broader trend of growing institutional interest in Solana.

The BSOL ETF recorded its strongest single-day trading volume on Friday, with over $126 million in trades. Trading volume exceeded $500 million across the preceding seven sessions, demonstrating increased activity in the Solana market.

Bitwise's XRP ETF also attracted capital, with an inflow of $15.40 million and assets under management totaling approximately $603 million at the time of writing.

The growth in institutional demand for SOL is reflected in derivatives trading, which has seen substantial activity. Futures trading volume reached around $14.6 billion, compared to approximately $1.7 billion in spot volume. This suggests that derivatives and leveraged positioning have amplified SOL's recent price movement.