Bitwise’s Solana Staking ETF has surpassed $1 billion in assets under management, becoming the first U.S.-listed Solana-focused ETF to reach the threshold 10 months after launch. The fund, which trades under the ticker BSOL, now accounts for more than half of assets held across Solana ETF products, according to market data cited alongside the milestone.
The achievement arrives after a volatile stretch for SOL and underscores how regulated fund demand has persisted even while the token remains below prior highs. Teddy Fusaro, president of Bitwise, said BSOL shares were down about 40% from their listing level, while SOL remained roughly 60% below its all-time high.
BSOL’s $1 billion asset base gives Bitwise a leading position in the emerging market for Solana exchange-traded products. The fund combines exposure to SOL with staking, the process through which tokens are committed to help secure the network in return for protocol rewards. That structure distinguishes it from a conventional spot fund holding tokens without staking them, though staking also introduces operational, liquidity and reward-rate considerations.
Solana ETF trading reaches $13 billion
Spot Solana ETFs have generated more than $13 billion in cumulative trading volume since their September 2025 debut, according to figures shared by Fusaro. The volume points to a market that has developed beyond a small group of early buyers, with the products increasingly used as listed instruments for gaining SOL exposure rather than requiring direct token custody.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, reported that Solana ETFs have attracted $1.7 billion in cumulative net flows. He said the category has not experienced a sustained period of net redemptions, including during the market downturn in the first half of the year.
That flow record is particularly favorable for a category whose underlying asset has been highly sensitive to risk appetite. BSOL’s asset growth can come from two sources: net new subscriptions and increases in the market value of the SOL it holds. The cumulative flow figure offers a clearer indication of fresh demand than assets under management alone, which rises and falls alongside the token’s price.
SOL has risen nearly 45% over the past month, according to the market figures included with the fund update. Bitcoin also moved toward $80,000 in recent sessions after recording its largest weekly nominal-dollar increase on record, providing a stronger backdrop for cryptocurrency-linked funds after the earlier weakness.
Broker access could widen the market
Charles Schwab said this week that it plans to begin rolling out spot Solana trading in the coming months. Schwab manages about $12 trillion in client assets, and the addition would give its brokerage customers another route to trade SOL directly through a major U.S. financial platform.
The brokerage rollout does not automatically translate into ETF purchases, since direct token trading and fund ownership serve different purposes. Direct SOL trading gives customers control over the asset and potential access to on-chain applications, while ETFs are generally more suited to brokerage accounts, advisers and portfolios that need listed securities rather than wallets and token-management systems.
Yet Schwab’s plan adds another distribution channel for Solana exposure as ETF issuers seek to turn early trading interest into longer-term assets. It also places SOL alongside Bitcoin and Ethereum in the group of major crypto assets gaining access through established brokerage infrastructure.
Goldman Sachs leads disclosed institutional holdings
James Seyffart, ETF analyst at Bloomberg Intelligence, said Goldman Sachs was the largest known holder of spot Solana ETFs, with nearly $90 million in holdings. His review of second-quarter activity also found that financial advisers were major buyers, while hedge funds were net sellers.
The divergence illustrates how different professional market participants may use the same product. Advisers can use ETFs to provide portfolio exposure without handling tokens directly, while hedge funds may trade them tactically, hedge positions, or exit after short-term gains. Reported holdings also capture only disclosed positions and should not be treated as a complete measure of institutional ownership.
Goldman’s reported exposure is modest beside the firm’s overall balance sheet and asset-management operations, but it provides a visible example of a major bank holding Solana ETF shares. The fund format has made such exposure simpler to report within existing securities portfolios than direct token ownership, which can require separate custody and operational arrangements.
BSOL reaching $1 billion places Solana alongside a small group of crypto assets that have attracted substantial demand through regulated U.S. funds. Its next test will be whether inflows remain durable when SOL’s price performance is less supportive, particularly as direct trading access expands through platforms such as Schwab and the ETF market becomes more competitive.
Explore Solana’s institutional rise and potential impacts in our guide, learn more about Solana ETFs here.
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