Solana ETFs Surge with $60M Inflows Amid Access Expansion
Spot Solana ETFs in the US saw their best inflows of the year on August 27, drawing in $60.91 million to total net assets of $1.49 billion. This influx surpassed $134 million, making August already the most successful month of the year for these funds.
The Bitwise BSOL fund led the charge with $40.20 million in inflows, accounting for about 66% of the day's total. Grayscale's GSOL added $6.22 million, Fidelity's FSOL brought in $5.82 million, and Morgan Stanley's MSOL contributed $4.74 million.
Charles Schwab announced just hours before that it would be adding Solana, AVAX, and LINK to its crypto trading product, Schwab Crypto, which could further expand access for retail investors. Meanwhile, the Solana network voted on proposals to cut new SOL issuance by 18.9 million over six years and rewrite transaction fee mechanics.
Solana's price responded positively, reaching $109 on August 27, its highest level since January. The asset has seen a 44% gain across August and is on pace for its strongest month since 2024.