'Big time debut': U.S. spot Solana ETFs draw $200 million in inflows during short debut trading week
Quick Take Recently-launched spot Solana ETFs from Bitwise (BSOL) and Grayscale (GSOL) have drawn in about $200 million in cumulative inflows since launch last week, setting aside seed capital. BSOL’s total flows of about $420 million, counting seed capital, greatly outpaced inflows into every other crypto ETF last week, despite launching on Tuesday. GSOL drew far less in comparison, with about $2 million in inflows, though the fund holds over $100 million worth of net assets. Spot Bitcoin and Ethereum ETF
Bitwise's BSOL spot Solana ETF and Grayscale's similar GSOL fund now hold more than $500 million worth of assets, mere days since their debut on the New York Stock Exchange, marking a significant debut for the staking funds.
Bitwise's BSOL launched on Tuesday , drawing nearly $70 million in inflows. The fund added nearly $130 million over the next two trading days, bringing its cumulative net inflows to $197 million to date, according to SoSoValue data . Including $222.9 million in seed capital, the fund has seen nearly $420 million in first-week flows.
"What a week for $BSOL, besides the big volume, it led all crypto ETPs by a country mile in weekly flows with +$417m," Bloomberg Senior ETF Analyst Eric Balchunas wrote on X . "It also ranked...16th in overall flows for the week. Big time debut."
Grayscale's GSOL, which launched the day after Bitwise's fund, has drawn much less in comparison, with about $2.2 million in cumulative net inflows to date, per SoSoValue data, though counting launch capital the fund now holds more than $100 million worth of SOL. GSOL commands a higher fee of 0.35% compared to 0.2% for BSOL. Balchunas previously said its day-late launch "is actually really huge...Makes it so much harder."
Both funds stake their held Solana for extra gains; Grayscale said the asset manager "intend[s] to pass on 77% of all staking rewards accrue to GSOL investors on a net basis." The funds differ slightly in structure from REX-Osprey's SSK fund, also a Solana staking ETF, but one regulated under the Investment Company Act of 1940, rather than the usual 1933 route used by BSOL and GSOL. SSK, which launched in July, has about $400 million in assets under management, according to VettaFi data .
Bitcoin, Ethereum log net inflows on high October volume
Meanwhile, spot Bitcoin and Ethereum ETFs both logged net positive inflows over the month of October on high volume, with the Bitcoin funds setting a new volume record and the Ethereum funds logging their second-highest monthly volume since the funds began trading, according to SoSoValue data.
The Bitcoin funds saw $3.61 billion worth of inflows in October, according to SoSoValue data , a slight increase over September's $3.53 billion. However, monthly volume saw a jump from $72.91 billion in September to $133.45 billion in October, an 83% increase. October was the highest volume month yet for the funds, overtaking March 2024, which saw $111.76 billion in volume, per SoSoValue.
While not a new record, spot Ethereum funds saw $55.25 billion in monthly trading volume, just shy of August 2025's $58.37 billion in volume. The ETH funds saw $668.13 million worth of inflows, per SoSoValue . The funds hold about $25 billion worth of ether in total, more than 5% of all ETH in circulation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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