The Bitwise Solana Staking ETF (BSOL) made a strong debut on October 28, 2025, notching approximately $55 million in trading volume. This figure demonstrates significant investor interest in the new crypto-focused exchange-traded fund.
BSOL is the first fully spot Solana ETF in the U.S. market, offering investors direct exposure to Solana (SOL) while staking 100% of its holdings to generate yield from the Solana network. The ETF trades on the NYSE under the ticker BSOL.
The launch of BSOL follows the REX-Osprey Solana Staking ETF (SSK), which began trading on June 30 and saw around $12 million in first-day trading volume. However, BSOL takes a more direct approach to staking. Rather than delegating to third-party validators, Bitwise operates a dedicated validator called Bitwise Onchain Solutions, in partnership with Helius, a Solana infrastructure provider. This validator stakes all of the ETF's Solana holdings.
The fund aims to offer a best-in-class solution that maximizes staking rewards and oversight for investors by leveraging Bitwise’s in-house staking expertise and Helius’ leading Solana staking technology.
The management fee for BSOL is 0.20%, but Bitwise is waiving the fee for the first three months on the first $1 billion in assets.
Solana is viewed by some as a faster, lower-cost alternative to Ethereum, powering a growing ecosystem of decentralized finance and blockchain-based applications. Solana is known for its low latency, confirming transactions in approximately 400 milliseconds, compared to 12 seconds for Ethereum and 10 minutes for Bitcoin. Additionally, Solana can process 100,000 financial transactions per second, exceeding the current volume of all equity exchanges combined.
At current network conditions, Solana staking yields hover around 7%. Bitwise intends to reinvest those rewards back into the fund, allowing them to compound over time and increase the ETF's share price.
Bloomberg ETF analyst Eric Balchunas characterized the initial asset inflow as significant for a newly launched crypto ETF, suggesting increasing institutional engagement and confidence in staking strategies. Bitget exchange's chief analyst Ryan Lee estimates the Solana staking ETF may attract between $3 billion and $6 billion in new capital during its first year.
The launch of BSOL comes as the SEC remains in limited operation during the government shutdown, creating a brief regulatory window that's allowed some crypto ETF filings to move forward automatically.
The debut of BSOL is poised to catalyze significant growth in SOL's valuation and is likely to attract considerable institutional investment, enhancing Solana's market positioning.
