Bitwise Launches Solana Staking ETF (BSOL) on NYSE, Drawing Record Inflows Amidst Market Turmoil

Amid considerable turbulence across the broader cryptocurrency landscape, Bitwise Asset Management introduced its groundbreaking exchange-traded fund (ETF), the Bitwise Solana Staking (BSOL), on the New York Stock Exchange (NYSE) on October 28, 2025. This launch marked a pivotal moment in the institutional acceptance of digital assets, providing investors with a regulated financial instrument designed to capture staking rewards generated by Solana (SOL).

The BSOL fund is the first U.S. exchange-traded product to offer 100% direct ownership of spot Solana tokens while automatically engaging in staking activities. This mechanism is structured to yield estimated annual rewards of approximately 7%. The technical infrastructure for this staking function is managed through a strategic collaboration with Helius, a prominent technology provider within the Solana network.

The timing of the launch coincided with significant market headwinds. By November 8, 2025, major cryptocurrencies were trading lower (BTC hovered around $102,358, and ETH was priced at $3,446.60), and SOL itself had shed 20% of its value in the preceding week. Despite this bearish environment, the market reception to BSOL was nothing short of phenomenal. On its inaugural trading day, BSOL attracted net inflows totaling $69.5 million. By the end of its first week, the cumulative capital injection reached $417 million, dramatically surpassing the initial performance metrics observed in many prior crypto-focused ETFs.

Matt Hougan, Bitwise’s Chief Investment Officer, emphasized that Solana’s inherent low latency and robust scalability position it as a formidable contender in the digital asset space, especially following its partnership with Western Union for stablecoin issuance. The success of BSOL, which operates with a 0.20% expense ratio (temporarily waived for the first three months on the initial billion dollars in assets), underscores a shift in investor focus toward the fundamental utility of the underlying asset. Solana’s rapid processing capability—confirming transactions in just 400 milliseconds—and its minimal transaction costs are drawing traditional finance players into the ecosystem, a trend further evidenced by BlackRock’s announced plans to launch its own yield fund focused on Solana.

This successful debut confirms Solana’s emerging role as a critical piece of infrastructure for institutional capital, effectively navigating both regulatory and technological hurdles. The surge in institutional activity, highlighted by the ETF’s record-breaking inflows, signals a growing demand for yield-generating products. It demonstrates that the network is successfully attracting capital seeking diversified crypto exposure beyond the established dominance of Bitcoin and Ethereum.