Bitwise’s Staking ETF Becomes First US Solana Fund to Top $1 Billion in Assets — BigGo Finance

The Bitwise Solana Staking ETF has crossed $1 billion in assets under management, becoming the first individual US-listed Solana fund to hit that threshold less than a year after its debut.

The milestone, confirmed by official data showing net assets of $1.0175 billion on August 26, underscores how sustained investor inflows into the product have continued even as the underlying token trades well below its peak. Bitwise announced the achievement on social media, noting that the fund reached the mark exactly ten months after launching in October 2025.

“Most of the approximately $1 billion of inflows have come in a bear market, an impressive indication of investor conviction,” the asset manager said in a post on X.

Fund Composition and Staking Mechanics

The fund held 9.33 million SOL at the time of the milestone, with a market value near $1.018 billion. Its net asset value stood at $14.95 per share, while the market price closed slightly higher at $15.03. Despite the asset growth, BSOL shares remained roughly 40% below their listing price, a reflection of how far the token itself has fallen from its highs.

Bitwise reported that 96% of fund assets were staked through its Helius-powered program. The ETF posted a 5.80% net reward rate measured over a 90-day period. Staking rewards accrue in SOL and remain inside the portfolio rather than being distributed as cash, meaning they can add tokens backing each share over time. The firm cautioned that rates vary and are not guaranteed.

The fund charges a 0.20% management fee and targets full deployment of eligible assets for staking.

Record Inflows Across the Category

The broader Solana spot ETF category has accumulated approximately $1.7 billion in cumulative flows and more than $13 billion in trading volume, according to data from Glassnode. The sector posted its strongest 10-day inflow stretch on record, drawing $138 million in net subscriptions, including a $47 million single-day inflow on Tuesday.

Bitwise’s BSOL captured about 79% of cumulative category flows, positioning it as the dominant vehicle in the space. The category avoided any prolonged redemption stretch despite a difficult first half, according to Bloomberg ETF analyst Eric Balchunas.

Teddy Fusaro, president of Bitwise, highlighted the contrast between asset accumulation and market performance. He noted that BSOL remained roughly 40% below its listing price, while Solana itself traded about 60% below its all-time high. He described BSOL as the third crypto asset ETP to surpass $1 billion.

Institutional Positioning

A June 30 disclosure showed Goldman Sachs held $88.1 million across three US Solana ETF products, including Bitwise, Grayscale, and Fidelity offerings. The position made the bank the largest known institutional holder of spot Solana ETFs.

Investor flow data for the first half of 2026 showed advisers were net buyers during the second quarter, while hedge funds were net sellers. Net subscriptions totaled $267.1 million in the first six months of the year, lifting holdings from 5.15 million SOL to 8.05 million SOL by June 30.

Note: AUM and cumulative inflows measure different figures and should not be treated as interchangeable, Bitwise noted. Falling token prices reduced net assets during parts of the first half, while the later milestone reflected both new capital and SOL price appreciation.

Price Divergence

The asset milestone arrived during a period of weakness for the underlying token. SOL fell 4.26% over 24 hours to $103.58, tracking a broader crypto market sell-off that CoinMarketCap attributed to rising risk aversion following hawkish Federal Reserve commentary. Bitcoin declined 4.24% over the same stretch.

CoinMarketCap identified $104.41 as an important Fibonacci support level for SOL. Holding that area could support another move toward $110, while a sustained move below it could expose the token to a deeper pullback toward $100. The divergence between continued ETF accumulation and spot price weakness suggests institutional demand has remained resilient even as speculative interest wavers.

SOL had gained nearly 45% over the month preceding the milestone, though the token remains far below its previous highs. The combination of record ETF inflows, a $1 billion single-fund milestone, and Goldman Sachs’ disclosed position points to a maturing investor base for Solana products even amid volatile price action.