Solana ETF Craze Heats Up as BSOL Tops $72M in Just Two Days
The Bitwise Solana Staking ETF (ticker: BSOL) has cemented its place in ETF history by delivering one of the strongest early performances ever recorded for a crypto-linked exchange-traded product in the United States.
Following a blockbuster debut, BSOL saw its trading volume soar to $72.4 million on Wednesday, building on an already impressive $56 million first-day performance — the most of any ETF launch among nearly 850 debuts this year.
Bloomberg Senior ETF Analyst Eric Balchunas described the milestone as a “huge number” and a positive sign for the broader crypto ETF market. He noted that most ETFs typically lose momentum after the first-day hype, but BSOL defied expectations by strengthening in its second session.
Investor Inflows Cement Confidence in Solana
The strong performance wasn’t limited to trading volume. BSOL also attracted $69.5 million in inflows on its first day, according to data from Farside and SoSoValue, bringing the fund’s total assets under management to nearly $292 million. This marks one of the most successful ETF launches of the year, particularly within the digital asset category.
BSOL and GSOL ETF flows (Source: Farside Investors)
Solana’s growing popularity — driven by its high-speed, low-cost blockchain infrastructure — continues to capture the attention of both retail and institutional investors. The success of BSOL highlights Solana’s evolving position as a viable alternative to Ethereum for staking and decentralized finance exposure.
Grayscale and REX Osprey Join the Solana ETF Race
Meanwhile, Grayscale Investments launched its own Solana Staking ETF (GSOL), which recorded roughly $4 million in trading volume during its debut. GSOL was converted from a closed-end vehicle that had operated for nearly four years, offering traditional brokerage access to Solana exposure before transitioning to a full ETF structure.
Balchunas noted that while GSOL’s numbers were “healthy but obviously short of BSOL,” its near-simultaneous launch represented an important step forward for the broader Solana ETF ecosystem.
Adding to the momentum, the REX Osprey SOL Staking ETF (SSK) brought in approximately $18 million in trading on Wednesday, further expanding investor access to Solana-based products.
A New Era for Crypto ETFs in the U.S.
According to Bloomberg data, more than 150 cryptocurrency-based exchange-traded product (ETP) proposals are currently under review, covering about 35 different digital assets. Solana and Bitcoin lead the charge, followed by XRP and Ethereum.
The SEC, following the recent U.S. government shutdown that began on Oct. 1, has issued new guidance allowing firms to file S-1 registrations without a delaying amendment, which means offerings can automatically take effect after 20 days. This change is expected to accelerate the approval process for pending crypto ETF filings.
With the Bitwise Solana ETF setting new benchmarks for trading activity and investor interest, analysts believe it may pave the way for a new wave of mainstream adoption of Solana-based financial products.
