Bitwise’s Solana Staking ETF has surpassed $1 billion in assets less than ten months after its launch, becoming the first individual Solana ETF to reach the level.
Bloomberg senior ETF analyst Eric Balchunas said in an Aug. 27 post on X that the Bitwise Solana Staking ETF had become the first Solana ETF to exceed $1 billion in size.
Balchunas placed the milestone within a Solana fund category that has attracted about $1.7 billion. According to his assessment, the products have returned very little of that capital through sustained redemptions, even though SOL suffered a steep decline during the first half of 2026.
Bitwise’s official fund data confirmed that BSOL had $1.0175 billion in net assets as of Aug. 26. Its portfolio contained 9.33 million SOL with a market value of $1.0176 billion, or about 0.137 SOL for each outstanding share.
At the end of the same session, BSOL reported a net asset value of $14.95 per share and a market price of $15.03. The closing market price placed the shares at a 0.56% premium to their underlying net asset value, while the fund’s 30-day median bid-ask spread stood at 0.10%.
The $1 billion figure refers to assets under management, which change with investor subscriptions, redemptions and SOL’s market price. Cumulative net inflows measure the amount investors have added after subtracting withdrawals, so the two figures should not be treated as interchangeable.
Launched on the NYSE Arca on Oct. 28, 2025, BSOL was the first U.S. exchange-traded product to offer 100% direct exposure to SOL, according to Bitwise. The product also incorporates rewards earned from staking its holdings.
Bitwise set the fund’s management fee at 0.20% and waived it for the first three months on the first $1 billion in assets. Its early access to the U.S. market helped BSOL collect about $420 million during its first trading week, according to LSEG data cited by Reuters in November 2025.
First-mover status can have a lasting effect on how ETF assets are divided among issuers. Reuters reported that competing firms, including Grayscale, VanEck, Fidelity and Invesco, adjusted their Solana fund plans after BSOL began trading.
By mid-May, BSOL controlled about 81% of the assets held by the Solana products tracked at the time. As crypto.news previously reported, BSOL held approximately $861 million out of $1.06 billion across the category, although SOL’s falling price reduced the value of the fund’s holdings.
Fresh data showed BSOL continuing to lead the latest round of subscriptions. SoSoValue recorded $33.5 million of net inflows into U.S. spot Solana ETFs on Aug. 24, their largest daily intake of 2026 and their fifth consecutive positive session.
Of the daily total, BSOL received $25 million, while Fidelity’s FSOL added $4.8 million and Grayscale’s GSOL collected $3.7 million. The five-session run beginning Aug. 18 brought $61.8 million into the products, according to SoSoValue.
Trading activity rose with the subscriptions. Combined volume across the tracked funds reached $166.8 million on Aug. 24, the highest level since October 2025, while BSOL generated about $108 million of the total.
On Aug. 27, Bitwise CEO Hunter Horsley reported approximately $100 million in daily inflows across the firm’s U.S. crypto products. Solana vehicles received about $40 million, the largest amount among the asset categories he listed, while BSOL generated more than $126 million in trading volume.
Horsley’s figures were preliminary issuer disclosures and did not provide a separate creation total for every Bitwise fund. Trading volume represents shares exchanged during a session, whereas inflows measure net capital entering a product through share creation and redemption activity.
BSOL’s growth has continued even though the value of each share fell during much of 2026. Bitwise’s performance data showed a 39.07% year-to-date NAV loss and a 60.15% decline since inception as of July 30.
An Aug. 7 filing with the U.S. Securities and Exchange Commission showed that investors contributed $267.1 million in net subscriptions during the first six months of 2026. Share issuance increased the fund’s holdings from approximately 5.15 million SOL at the end of 2025 to 8.05 million SOL by June 30.
Falling SOL prices still reduced BSOL’s net assets from $641.3 million to $592.3 million during the period. Its NAV per share dropped from $16.37 to $10.01, producing a negative return of 38.85% for the first half.
As reported earlier in August, the filing recorded $19.2 million in gross staking rewards and about $17.7 million in net investment income after expenses. BSOL also recognized $333.8 million in portfolio losses, consisting of $262.9 million in unrealized depreciation and $70.9 million in realized losses.
A major U.S. bank later approved BSOL shares as collateral for loans with a maximum loan-to-value ratio of 25%, according to Bitwise CEO Hunter Horsley. The arrangement gives eligible investors another use for their ETF shares, although the bank was not identified in the announcement.
BSOL’s structure allows Bitwise to delegate most of its SOL to validators and add the resulting rewards to the fund. The product does not distribute the rewards as a separate cash payment; earned SOL becomes part of the portfolio and affects the value backing each share.
As of Aug. 26, Bitwise reported that 96% of BSOL’s assets were staked, compared with its stated target of 100%. The fund listed a gross staking reward rate of 6.17% and a net rate of 5.80%, calculated as a 90-day average using data from Helius.
Bitwise cautioned that staking rewards can change and are not guaranteed. Its fund disclosures also state that BSOL is not registered as an investment company under the Investment Company Act of 1940 and does not receive all the protections that apply to mutual funds and ETFs registered under that law.
The SEC filing identifies BSOL as an exchange-traded product whose sole asset is SOL. Its main investment objective is to follow the value of the tokens it holds after operating costs and liabilities, while earning additional SOL through staking serves as its secondary objective.
For American investors, the NYSE Arca listing provides SOL exposure through regular brokerage accounts without requiring direct token custody or validator management. Fund investors still face SOL price volatility, management expenses, tracking differences and staking-related operational risks identified in Bitwise’s disclosures.
SOL climbed from an Aug. 26 opening price near $96.60 to an intraday high around $110 on Aug. 27. In recent technical coverage, the daily chart placed initial support near $104.41, while a confirmed break above $110 could expose resistance around $114.88 and $127.83.
