Bitwise Solana ETF Tops $1 Billion as SOL Demand Surges

Bitwise’s Solana Staking ETF (BSOL) has surpassed $1 billion in assets under management, becoming the first Solana-focused exchange-traded fund to reach the milestone less than a year after launch.

BSOL recorded more than $126 million in trading volume on Friday, its highest single-day total so far. Trading activity also exceeded $500 million over the previous seven sessions, highlighting growing institutional demand for Solana investment products.

Solana ETFs have now posted seven consecutive trading days of inflows, bringing cumulative inflows across SOL products to approximately $1.26 billion. That represents about 2.2% of Solana’s current market capitalization.

Institutional accumulation is also occurring outside ETFs. DeFi Dev Corp recently purchased another 19,000 SOL for roughly $1.86 million, increasing its holdings to about 2.33 million SOL, valued at approximately $182 million. Meanwhile, Bitwise’s XRP ETF attracted another $15.40 million, with assets under management reaching roughly $603 million.

The surge in ETF demand coincides with strong Solana price performance. SOL gained around 19% over the past week before encountering selling pressure. At the latest reading, Solana traded at $103.43, down 2.25% over 24 hours, with a market capitalization of approximately $60.42 billion.

Derivatives have played a major role in the rally. Solana futures trading volume reached about $14.6 billion compared with roughly $1.7 billion in spot activity, suggesting leveraged positions have amplified recent price movements.

Investors are also assessing changes to Solana’s token supply. Validators approved SGP-0002, known as “Double Disinflation,” which raises the annual disinflation rate from 15% to 30% while maintaining the network’s long-term inflation target at 1.5%.

The proposal received 67% support and could allow Solana to reach its terminal inflation rate in approximately 2.8 years instead of 5.7 years. Estimates suggest about 18.9 million fewer SOL could enter circulation over six years.

Rising Solana ETF inflows, institutional accumulation and lower future token issuance could strengthen SOL’s investment case. However, whether the rally proves sustainable may depend on continued ETF demand and whether futures-driven momentum develops into lasting spot-market buying.