Bitwise Solana ETF Surpasses $1 Billion in Assets Under Management

Bitwise's Solana (SOL) staking ETF has surpassed $1 billion in assets under management just 10 months after its launch. This marks the first instance of an exchange-traded product based on Solana reaching the $1 billion milestone. Bitwise announced that BSOL exceeded $1 billion in assets within 10 months of its launch. BSOL is an exchange-traded product that provides direct exposure to Solana and is traded under the ticker BSOL on the NYSE Arca. This product features a staking structure added to its spot exposure. Staking involves locking tokens in the blockchain network verification process to earn rewards. According to ETF Llama, as of August 28, BSOL's assets under management were recorded at $1.02 billion, but this decreased to $976.32 million as of August 29. This indicates that the ETF's assets do not solely move based on new fund inflows. Bitcoin.com News reported that the total net assets of Solana ETFs are approximately $1.43 billion. Bitwise CEO Hunter Horsley stated that Bitcoin, Ethereum, and Solana are assets with ETFs exceeding $1 billion. Charles Schwab has announced plans to add Solana, Avalanche, and Chainlink.

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