Bitwise Solana ETF Becomes First SOL Fund to Hit $1 Billion

First Solana ETF surpasses billion-dollar mark

The Bitwise Solana Staking ETF (BSOL) crossed $1 billion in assets under management on Friday, exactly 10 months after launch. The fund now accounts for more than half of the total AUM across all Solana ETFs, according to data from The Block.

This milestone comes during a challenging period for crypto assets, with most inflows arriving while the broader market has been in a downturn.

Key numbers behind the milestone

• BSOL hit $1 billion AUM in its 10th month
• BSOL holds more than 50% of total Solana ETF AUM
• Spot Solana ETFs have seen over $13 billion in cumulative trading volume since September 2025
• Cumulative inflows across the category total $1.7 billion
• BSOL shares are down about 40% from their listing price

What Bitwise said about investor confidence

The firm described the inflows as "an impressive indication of investor conviction" given the difficult market backdrop. Bitwise posted on X: "Grateful to investors for trusting Bitwise to steward their investment. Capital markets are coming onchain, and Solana's just getting started."

Teddy Fusaro, Bitwise President, acknowledged the share price decline while noting that Solana itself is down roughly 60% from its all-time high.

Broader market context

The Solana ETF category has maintained steady inflows despite a difficult first half of 2026. Bloomberg Senior ETF analyst Eric Balchunas noted that the $1.7 billion in cumulative flows came with "really no outflow stretch" despite the downturn.

Solana's price has recovered nearly 45% over the past month, while Bitcoin has approached $80,000 for the first time in months.

Who is buying Solana ETFs?

Goldman Sachs is the largest known holder of spot Solana ETFs, with nearly $90 million in holdings, according to Bloomberg Intelligence's James Seyffart. Financial advisors were net buyers in the second quarter, while hedge funds were net sellers.

Institutional access expands

Institutional access to Solana continues to grow. This week, $12 trillion asset manager Charles Schwab announced it would begin offering spot Solana trading in the coming months.

What remains unclear

While BSOL's momentum is notable, the fund's share price has declined significantly from its listing level, and it is unclear whether the strong inflow trend will continue as the broader crypto market stabilizes.

Why this matters

The $1 billion milestone shows that institutional investors are allocating capital to Solana products even during periods of market weakness, signaling growing confidence in the blockchain platform as a vehicle for tokenized assets.

• The Block