Bitwise’s BSOL Becomes First Solana ETF to Surpass $1 Billion in Assets

Bitwise’s Solana staking exchange-traded fund, BSOL, has surpassed $1 billion in assets under management, becoming the first Solana ETF to cross that mark.

The fund reached the milestone about 10 months after launch, The Block reported on Aug. 28. In a post on X, Bitwise said most of the inflows came during a bear market, calling that a sign of investor conviction. The firm added that capital markets are moving on-chain and that Solana is still in its early stages.

Inflows continued even as the market weakened. Teddy Fusaro, Bitwise’s president, said BSOL is trading about 40% below its listing price. Solana remains about 60% below its all-time high.

Still, trading in Solana ETFs has grown rapidly. Data from The Block show cumulative trading volume has surpassed $13 billion since spot Solana ETFs launched in September 2025.

Eric Balchunas, a senior ETF analyst at Bloomberg, said there was effectively no period of net outflows despite the sharp market selloff in the first half of the year. He called cumulative inflows of $1.7 billion an impressive result.

As the crypto market rebounds, institutional access to Solana is also expanding. Solana has gained about 45% over the past month. Charles Schwab, which manages $12 trillion in assets, said it plans to begin offering spot Solana trading within months. Goldman Sachs is known as the largest institutional holder of spot Solana ETFs, with about $90 million in holdings.

Bitwise said steady inflows during the bear market show that medium- to long-term investment demand for Solana remains intact.