Bitwise’s Solana ETF Explodes with $69.5M Inflows on Launch Day

Highlights:

• Bitwise’s BSOL ETF trading volume hit $55.4 million on day one, six times REX-Osprey’s debut.
• BSOL saw $69.5 million in inflows, showing strong investor interest in staking ETFs.
• SEC clarity on staking rules opened doors for Solana and other staking-focused ETFs.

Bitwise’s Solana Staking ETF (BSOL) made $55.4 million in trades on Tuesday, its first day of trading. The launch came at the same time as two new cryptocurrency ETFs from Canary Capital. BSOL’s debut was nearly six times higher than REX-Osprey’s Solana Staking ETF (SSK). SSK began trading on June 30 with about $12 million in first-day volume.

BSOL Leads 2025 Crypto ETF Trading Volumes

BSOL had the highest trading volumes of any crypto ETF introduced in 2025, according to Bloomberg analyst Eric Balchunas. He added, “Surprised they didn’t hold off tho and have it come in on Day One to get volume and flows higher. Good news is now we’ll have only organic, easier to measure true demand.”

In the first 30 minutes, BSOL traded $10 million. In comparison, Canary Capital’s HBAR ETF traded $4 million, and Litecoin ETF traded $400,000. By the end of the day, HBAR reached $8 million in volume, meeting predictions, while Litecoin reached $1 million, below the $7 million estimate.

Balchunas said BSOL’s trading beat his pre-launch forecast of $52 million. BSOL received $69.5 million in inflows on its first day, October 29, according to Farside Investors. This is about 480% higher than the $12 million recorded by REX Osprey’s SSK.

Final tally of Day One trading.. $BSOL: $56m$HBR: $8m$LTCC: $1m
I can't believe how close I came. ETF sixth sense for the win. Wish there was a @Polymarket for this I'd be rich. https://t.co/TODOk13WUt

— Eric Balchunas (@EricBalchunas) October 28, 2025

According to data from SoSoValue, the fund’s net asset value (NAV) has climbed to around $289 million. This represents about 0.01% of Solana’s total market capitalization. BSOL allows investors to gain exposure to SOL and earn over 7% annual rewards by staking 100% of the Solana holdings. The fund is listed on the New York Stock Exchange (NYSE) and carries a management fee of 0.20%. Bitwise has waived this fee for the first three months to attract early investors.

BSOL has quickly become a favorite among investors who want Solana exposure. Kyle Samani, managing partner at Multicoin Capital, called it a “big moment.” He said most global investors were not allowed to trade or hold Solana before today.

0/ Today @BitwiseInvest launched $BSOL with $220M in the fund, the first ever SEC approved @solana staking ETF with 100% of the underlying SOL staked

— Kyle Samani (@KyleSamani) October 28, 2025

SEC Clarity Opens Door for Staking ETFs

The U.S. Securities and Exchange Commission clarified rules for staking. On May 29, the SEC said some proof-of-stake activities are not securities. In August, it extended guidance to certain liquid staking programs. This cleared the way for ETFs like BSOL. Bitwise also introduced a Solana staking ETF in Europe last year. Its U.S. version was delayed due to regulatory uncertainty.

The launch comes as crypto ETFs gain popularity in 2025. Spot Bitcoin ETFs saw record inflows early this year, while Ether ETFs grew later. Analysts note investors are exploring Solana, Avalanche, and XRP for new opportunities. Bitwise already offers ETFs linked to Bitcoin, Ether, and other digital assets. This new fund gives investors access to staking rewards in a regulated way.