Bitwise Solana ETF Draws Record Inflows in First Trading Week
Bitwise's BSOL strong debut reflects growing institutional demand for Solana exposure as investors rotate out of Bitcoin and Ethereum products.
Bitwise’s newly launched Staking Solana (BSOL) exchange-traded fund (ETF) made a powerful market debut in its first trading week. The fund drew unprecedented investor interest and surpassed all other crypto ETFs globally in weekly inflows.
On November 1, Bloomberg ETF analyst Eric Balchunas reported that BSOL attracted roughly $417 million in its first week of trading. That performance placed the fund among the top 20 ETFs across all asset classes by net inflows.
BSOL Draws Record Inflows but Solana Token Price Slips
For context, BSOL’s inflows were nearly ten times larger than the NEOS Bitcoin High Income ETF (BTCI), which brought in $56.17 million. Grayscale’s Ethereum fund followed closely, securing $56 million.
What a week for $BSOL, besides the big volume, it led all crypto ETPs by a country mile in weekly flows with +$417m ($IBIT had a rare off week, it'll be back). It also ranked it 16th in overall flows for the week. Big time debut.
— Eric Balchunas (@EricBalchunas) November 1, 2025
In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) — typically the market leader in weekly inflows — faced a rare setback. The fund ended the week with approximately $254 million in outflows.
The fund’s early success highlights how institutional investors are expanding their exposure beyond Bitcoin and Ethereum, seeking regulated access to Solana’s high-performance ecosystem.
Analysts interpret this as a sign of pent-up demand after more than a year of market anticipation for an altcoin-focused ETF.
However, the surge in fund inflows did not translate into immediate price gains for Solana.
Data from BeInCrypto shows that SOL has fallen by more than 3% over the past week, currently trading at $186.92.
The muted reaction suggests that capital inflows into BSOL may have come from asset rotations — investors reallocating funds from other ETFs rather than injecting fresh capital into Solana itself.
Despite the short-term pullback, Bitwise Chief Investment Officer Matt Hougan remains confident in Solana’s trajectory.
He argues that investing in Solana is a bet on the blockchain’s expanding role in powering stablecoin transfers and tokenized assets. This growth, he adds, is driven by Solana’s high-speed infrastructure and its active developer community.
“If I’m right, the combination of a growing market and a growing share of that market will be explosive for Solana,” Hougan concluded.
Indeed, Solana’s on-chain metrics support these strong network fundamentals.
According to Token Terminal, applications built on Solana now host over $40 billion in user assets.
Total Value of Assets on Solana. Source: Token Terminal
The token currently trades at roughly 3.2 times its ecosystem’s total value locked, signaling that long-term fundamentals may be catching up to investor sentiment.
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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