The Bitwise Solana Staking ETF (BSOL) made its debut on the NYSE Arca, marking a significant milestone for Solana and the broader cryptocurrency market. The ETF launched with approximately $223 million, signaling strong institutional demand for Solana exposure through traditional investment vehicles.
BSOL is the first U.S. exchange-traded product to offer 100% direct exposure to spot SOL with built-in staking. It allows investors to tap into Solana's growth potential and earn staking rewards without the complexities of managing wallets, private keys, or manual staking. Bitwise plans to stake 100% of BSOL's SOL holdings through Bitwise Onchain Solutions, powered by Helius Labs. The fund is waiving all fees for a limited time, showcasing Bitwise's confidence in the product. The management fee is set at 0.20%, but it will be 0% for the first three months on the first $1 billion in assets.
The launch of BSOL arrives at a pivotal moment for Solana, which has emerged as one of the most active blockchains in 2025. Solana's ability to handle millions of daily transactions and attract major players like Visa, Shopify, and Helium Network underscores its growing prominence. Its speed, low fees, and strong developer activity have enabled it to rebound from past challenges and reclaim a top-five spot by market capitalization.
Bloomberg ETF analyst Eric Balchunas noted BSOL's successful debut, estimating strong first-day volume and organic inflows. Crypto trader MartyParty reported that BSOL surpassed $20 million in trading volume within the first 90 minutes of launch. Bitwise CIO Matt Hougan stated that institutional investors are attracted to ETFs that generate strong on-chain revenue, an area where Solana excels. He anticipates BSOL becoming a major institutional success.
The launch of the Bitwise Solana Staking ETF has fueled renewed bullish sentiment for Solana. On Tuesday, SOL traded at $203, a 14% increase from its recent low of $177 on October 22. The recovery led to liquidations totaling $47 million in short positions.
Analysts anticipate further price appreciation for SOL. Analyst Ali Martinez sees potential for a move toward $210, while trader Scient reiterated his buy zone at $190–$175, calling SOL a stronger risk-reward play than Ethereum. JPMorgan predicts that a Solana ETF could attract between $3 billion to $6 billion in its first year, based on the adoption rates of Bitcoin and Ether ETFs.
The debut of BSOL marks a major milestone for Solana and altcoin ETF adoption. It provides investors with a regulated avenue for exposure to SOL's price and staking rewards. The ETF is expected to attract substantial institutional inflows, similar to the REX-Osprey Solana Staking ETF, which debuted with over $12 million in first-day volume.
In addition to the Bitwise Solana Staking ETF, Grayscale's Solana Trust (GSOL) is set to convert to a spot ETF on Wednesday, providing another regulated avenue for exposure to SOL. The approval process for crypto ETFs in U.S. markets had been delayed due to the federal government shutdown that began on October 1. However, new guidance allows firms to file registration statements that become effective after 20 days without the standard delaying amendment.
