Bitwise Crypto ETFs Attract $100 Million in One Day

Bitwise has recorded roughly $100 million in inflows across its U.S. crypto exchange-traded products in a single day, according to the data provided by CEO Hunter Horsley. 

Solana products managed to attract the largest share of investor demand.

Solana products led the flows with around $40 million. Bitcoin products, for comparison, come in second place with approximately $22 million.

Hyperliquid ranked third with roughly $20 million. Meanwhile, XRP products attracted about $12 million. Ethereum-related products accounted for approximately $1.4 million.

“Investors are adding exposure to crypto,” Horsley said.

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Solana, Hyperliquid and XRP together accounted for roughly $72 million of the approximately $100 million flowing into Bitwise’s products, significantly exceeding the amount allocated to Ethereum.

The Bitwise Solana Staking ETF (BSOL) recorded its highest trading volume since launch. The product traded more than $126 million on the day.

It is worth noting that Solana accounted for roughly 40% of the $100 million flowing into Bitwise’s U.S. ETFs. 

The “debasement trade” 

The figures come as crypto investment products are seeing renewed interest amid Bitcoin’s recovery toward the $80,000 level. U.S. spot Bitcoin ETFs have recorded eight consecutive trading sessions of net inflows. This brings their combined intake over the period to roughly $2.8 billion. 

Bitcoin ETFs attracted $232 million on Wednesday, which is down from a daily peak of $606 million recorded on August 20. 

BlackRock’s IBIT has accounted for approximately $2.02 billion, or 72%, of the $2.8 billion eight-day inflow streak.

Bloomberg ETF analyst Eric Balchunas recently noted that gold and Bitcoin funds had attracted a combined $7 billion over a five-day period, which he described as a record. He linked the flows to a broader “debasement trade” as investors increasingly seek alternative assets.