Bitwise Solana ETF Surpasses $500 Million in AUM

TLDR

• BSOL ETF reached $500 million AUM in 18 days.
• Over 90% of all Solana spot ETF inflows are from BSOL.
• BSOL offers zero sponsor fees for the first three months.

Bitwise’s Solana ETF (BSOL) has quickly reached over $500 million in assets under management (AUM). This milestone occurred within only 18 days of trading. The announcement came from Bitwise CEO Hunter Horsley on Twitter, highlighting BSOL’s rapid growth.

According to Horsley, “We are truly in awe of the speed and scale of BSOL’s growth.” He emphasized that the success demonstrates investor confidence in Solana as a fundamental part of the future crypto landscape. Bitwise Asset Management, under Horsley’s leadership, has been a pioneer in launching various digital asset ETFs, including prominent Bitcoin and Ethereum products.

Fee Structure and Competitive Position

Bitwise’s official Twitter stated that the BSOL ETF reached $500 million in AUM in its first 18 days of trading, outlining its substantial presence in the market. The firm revealed a unique fee structure: zero sponsor fee for the first three months on up to $1 billion in assets, along with waived staking fees during this period. Subsequently, sponsor and staking fees will apply, at 0.20% and 0.06% respectively.

BSOL stands out among Solana ETF offerings, leading in market share against competitors such as Grayscale, VanEck, 21Shares, Fidelity, and Canary Capital. Bitwise’s Solana ETF has accumulated over $444 million in cumulative net inflows since launch, accounting for more than 90% of all Solana spot ETF inflows across five issuers.

Sustained Institutional Interest and Market Impact

The fund continues to receive daily net inflows, up to 18 consecutive days as of November 21, 2025. This trend highlights the sustained interest from institutional investors. The BSOL ETF provides spot exposure to Solana (SOL), with added staking rewards, which is appealing to both passive and yield-focused institutional participants.

Solana (SOL) is the primary asset influenced by BSOL’s structure, accumulating SOL and distributing staking rewards accordingly. Other Solana-oriented ETP products have not matched the BSOL’s level of inflows and assets under management. Recent market trends have seen outflows from Bitcoin (BTC) and Ethereum (ETH) ETFs, amidst incoming Solana investments.

Correlation with Solana’s Market Dynamics

The significant inflows into the ETF correlated with a rally in Solana’s price. However, the overall macro crypto environment resulted in SOL’s trading at lows around $125, despite the asset inflows. While specific total value locked (TVL) or staking flow data was not detailed in Bitwise’s communications, the accumulation likely boosted staking demand.

The surge in interest for Solana is reflected in CME futures open interest, which suggests an increase in institutional engagement. The exact figures for futures are not provided by Bitwise or CME in primary sources, yet the trend indicates rising exposure.

Comparable ETF Launch Histories

Bitwise has a history of launching successful cryptocurrency ETFs. Their prior releases of Bitcoin and Ethereum spot ETFs attained high AUM during their initial phases, though currently, they are experiencing net outflows. This marks a pivot towards alternative products like BSOL.

Other new Solana ETF products by issuers such as Grayscale, VanEck, 21Shares, Fidelity, and Canary Capital have not reached BSOL’s scale or pace of inflows. Previous ETF launches, like those for Ethereum and Bitcoin, experienced initial positive market reactions with inflow normalization over time.