How Much Did Solana ETF Demand Surge After Hitting the NYSE?

The newly launched Solana exchange-traded funds from Bitwise and Grayscale have made an impressive entrance on the New York Stock Exchange, collectively surpassing $500 million in assets under management just days after their debut.

Bitwise’s BSOL ETF led the charge, attracting nearly $70 million in inflows on its first day of trading and adding another $130 million over the following two days, according to SoSoValue data. Including $222.9 million in seed capital, BSOL’s total inflows for its first week reached roughly $420 million. Bloomberg ETF analyst Eric Balchunas described the launch as a “big time debut,” noting that BSOL topped all crypto ETPs in weekly flows and ranked 16th among all ETFs overall.

Grayscale’s GSOL fund, which entered the market a day later, saw comparatively modest inflows of about $2.2 million but still surpassed $100 million in total assets when factoring in launch capital. GSOL charges a 0.35% management fee, higher than Bitwise’s 0.2%, which analysts say could explain the slower start.

Both funds stake their Solana holdings to generate additional yield. Grayscale stated that GSOL investors will receive 77% of net staking rewards, while Bitwise’s approach follows a similar model to maximize returns. The funds join REX-Osprey’s SSK ETF, another Solana staking vehicle that launched in July and currently manages around $400 million.

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The Solana ETF debuts come amid broader strength in crypto investment products. Spot Bitcoin and Ethereum ETFs both posted strong inflows in October, with Bitcoin funds drawing $3.61 billion and Ethereum ETFs $668 million. Trading activity also surged — Bitcoin ETFs hit a record $133.45 billion in monthly volume, while Ethereum funds notched their second-highest total ever at $55.25 billion.

The rapid success of Solana-based ETFs highlights investors’ growing appetite for diversified crypto exposure beyond Bitcoin and Ethereum, signaling a maturing market where staking rewards and blockchain fundamentals play a greater role in institutional demand.