• Bitwise Solana Staking ETF launched with strong inflows and high first day trading volume.
• SOL price fell below $195 while whale activity and futures trading showed growing market interest.
• BSOL offers full Solana exposure with staking rewards highlighting investor demand for crypto ETFs.

Bitwise Solana Staking ETF (BSOL) made a notable debut on NYSE Arca with $222.9 million in seed capital. Trading volume reached $56 million on the first day, making it the largest crypto ETF launch since Ethereum. Canary’s HBAR ETF and Litecoin ETF reported $8 million and $1 million in first-day volume, highlighting BSOL’s strong market entry. 

The ETF recorded $69.5 million in inflows on October 29, nearly 480% higher than the $12 million inflows seen by REX Osprey SOL Staking ETF (SSK). Its net asset value (NAV) now stands near $289 million, representing about 0.01% of Solana’s market capitalization.

Solana Price and Market Activity

Despite the ETF’s launch, SOL price dropped below $195, reaching a 24-hour low of $191.39. The maximum at the same period stood at $203.83. The trading volume increased by 25% in 24 hours indicating that the traders had a new interest. Whale activity increased, with a prominent investor opening a long position on SOL using 10x leverage.

Previously, the same whale closed a 13x long position on BTC for $1.4 million in profit. The derivatives market reflected buying activity in the last few hours. Solana futures open interest rose 3% to $10.22 billion, with Binance seeing a 2.5% increase and CME experiencing a minor 0.03% drop.

Features of Bitwise Solana Staking ETF

BSOL offers full exposure to Solana while staking 100% of its holdings through in-house solutions powered by Helius technology. The ETF provides investors with over 7% annual staking rewards. Bitwise Asset Management designed the product to enhance on-chain operations using high-performance technology. 

The ETF competes with SSK, another spot Solana ETF that debuted earlier. By focusing on staking, BSOL targets long-term investors seeking both price exposure and passive rewards. The launch also emphasizes Solana’s growing presence in mainstream finance and highlights competition among digital asset ETFs.

Market Implications and Investor Response

Bitwise’s first-day inflows show strong demand for staking-focused Solana exposure. On October 28, Bitwise launched the Solana Staking ETF to give direct SOL exposure and earn staking rewards. Analysts view the performance as organic and easier to measure, without artificial volume boosts. Whale participation suggests confidence in the network despite short-term price fluctuations.

Increased trading and derivatives activity indicate market attention on both spot and futures products. The ETF’s debut could influence other digital asset managers to explore staking-based ETFs. Moreover, Fidelity also added Solana to its trading platforms, giving investors new access to the fast blockchain network. Overall, BSOL represents a growing institutional interest in Solana and further integration of crypto assets into traditional investment structures.