Bitwise fund is first Solana ETF to hit $1 billion AUM

Exactly 10 months after launch, a Solana exchange-traded fund has hit a billion-dollar milestone.The Bitwise Solana Staking ETF (BSOL) crossed $1 billion in assets under management, the firm said Friday. The crypto asset manager noted that most of the inflows have come in a bear market, calling it "an impressive indication of investor conviction.""Grateful to investors for trusting Bitwise to steward their investment," the firm said on X. "Capital markets are coming onchain, and Solana's just getting started."BSOL shares are down about 40% from the price it was listed at, Bitwise President Teddy Fusaro said, while Solana (SOL) is off 60% from its all-time high. Cumulative trading volume for spot Solana ETFs has surpassed $13 billion since their launch in September 2025, according to The Block's data."The category has seen $1.7b in cumulative flows w really no outflow stretch despite coming off a nightmare downturn first half of year. Impressive," Bloomberg Senior ETF analyst Eric Balchunas wrote in a post on X.Spot Solana ETF VolumesBSOL's milestone comes despite a difficult backdrop for crypto assets this year, although the broader market has begun to recover in recent weeks. Bitcoin has marched toward $80,000 for the first time in months as the world's largest cryptocurrency made its largest weekly nominal dollar gain ever. For its part, the price of Solana has risen nearly 45% over the past month.The recent recovery has also been accompanied by growing institutional access to Solana. This week, $12 trillion asset manager Charles Schwab said it would begin rolling out spot Solana trading in the coming months.Of note, Goldman Sachs is the top known holder of spot Solana ETFs, with nearly $90 million in holdings. Bloomberg Intelligence's James Seyffart said advisors were big buyers in the second quarter, while hedge funds were net sellers.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.