Bitwise’s Solana Staking ETF (BSOL) has crossed an important milestone, becoming the first Solana-focused ETF to grow beyond $1 billion in assets less than ten months after launching.
As of Aug. 26, the fund held 9.33 million SOL worth about $1.018 billion. Bloomberg ETF analyst Eric Balchunas highlighted the achievement, noting that Solana ETFs have attracted roughly $1.7 billion overall and have managed to hold on to most of that money despite SOL’s sharp price decline earlier in 2026.
Bitwise’s latest data showed BSOL had more than $1.017 billion in net assets. The fund’s net asset value stood at $14.95 per share, while its market price closed slightly higher at $15.03. The difference meant the shares traded at a small premium to the value of the SOL held by the fund.
It’s important to note that assets under management and investor inflows are not the same thing. Assets can rise or fall depending on SOL’s price, while inflows only measure the amount of new money investors put into the fund after accounting for withdrawals.
BSOL launched on NYSE Arca on Oct. 28, 2025, and was the first U.S. exchange-traded product to give investors direct exposure to Solana while also earning staking rewards. The fund charges a 0.20% management fee and briefly waived the fee on the first $1 billion in assets during its launch period.
Getting to market first gave BSOL a major advantage. The fund reportedly attracted around $420 million during its first week of trading. Competitors such as Grayscale, Fidelity, VanEck, and Invesco later adjusted their own Solana ETF plans after BSOL’s successful launch.
The fund has continued to dominate the Solana ETF market. Earlier this year, BSOL controlled about 81% of assets in Solana investment products. Even as SOL prices fell and reduced the value of holdings, investors kept adding money to the fund.
Recent data shows demand remains strong. On Aug. 24, U.S. spot Solana ETFs recorded $33.5 million in net inflows, the biggest daily total of 2026 so far. BSOL alone attracted $25 million of that amount, while Fidelity’s FSOL and Grayscale’s GSOL also saw fresh investments.
Trading activity also picked up. Combined trading volume across Solana ETFs reached nearly $167 million that day, the highest level since October 2025. BSOL accounted for roughly $108 million of the total.
Bitwise CEO Hunter Horsley also reported strong demand across the company’s crypto products. According to him, Bitwise saw around $100 million in daily inflows, with Solana-related products bringing in about $40 million. BSOL itself generated more than $126 million in trading volume.
What makes BSOL’s growth more impressive is that investors continued buying even while the fund’s share value was falling. By the end of July, BSOL’s net asset value was down more than 39% for the year and over 60% since launch.
A filing with the U.S. Securities and Exchange Commission showed that investors added $267.1 million to the fund during the first six months of 2026. The new money increased BSOL’s holdings from about 5.15 million SOL at the end of 2025 to more than 8 million SOL by June 30.
However, lower SOL prices still hurt performance. The fund’s net assets dropped from $641.3 million to $592.3 million during the first half of the year, and its net asset value per share fell from $16.37 to $10.01.
The filing also showed that BSOL earned about $19.2 million in staking rewards and generated roughly $17.7 million in net investment income after expenses. At the same time, the fund recorded more than $333 million in investment losses due to Solana’s price decline.
Another development came when a major U.S. bank reportedly approved BSOL shares as collateral for loans with a maximum loan-to-value ratio of 25%. While the bank’s name was not disclosed, the move gives some investors another way to use their ETF holdings.
A key feature of BSOL is staking. The fund delegates most of its Solana holdings to validators and earns rewards in return. Instead of paying those rewards out as cash, the additional SOL stays inside the fund, increasing the assets backing each share.
As of Aug. 26, around 96% of BSOL’s assets were staked. The fund reported a gross staking reward rate of 6.17% and a net reward rate of 5.80%. Bitwise has also warned that staking rewards can change over time and are never guaranteed.
For many U.S. investors, BSOL offers a simple way to gain exposure to Solana through a regular brokerage account without having to manage wallets, private keys, or staking operations themselves. However, investors still face risks tied to SOL’s price swings, management fees, tracking differences, and staking-related operations.
Meanwhile, Solana’s price showed signs of recovery, rising from around $96.60 on Aug. 26 to an intraday high near $110 on Aug. 27. Analysts are watching support around $104, while a move above $110 could open the door to higher resistance levels near $115 and $128.
