Michaela
Bitwise, a U.S.-based crypto asset management firm known for offering regulated investment products tied to digital assets, has launched the Bitwise Solana Staking ETF (BSOL), which has already drawn approximately $222.8 million in assets.
Key points:
- Bitwise launched the Bitwise Solana Staking ETF (BSOL), the first U.S. fund offering 100% direct exposure to Solana (SOL), attracting nearly $223 million in assets within days of trading.
- The fund allows investors to earn Solana’s 7%+ average staking rewards through Bitwise’s professional on-chain staking infrastructure.
- The launch follows recent SEC guidance clarifying that certain proof-of-stake (PoS) activities are not securities offerings, paving the way for greater institutional participation in staking-based crypto products.
“BSOL is the first U.S. ETP with 100% direct exposure to Solana (SOL). The Fund offers investors the opportunity to benefit from staking rewards through professionally managed staking, while capturing the potential growth of one of the fastest, most efficient, and most widely used blockchains,” the official announcement from Bitwise wrote.
The BSOL fund is designed to capture Solana’s average staking yield of over 7%, with all assets fully staked through Bitwise Onchain Solutions to enhance investor returns.
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Bloomberg Intelligence senior ETF analyst Eric Balchunas described the early performance of Bitwise’s BSOL fund as “impressive,” noting that it had already drawn approximately $222.8 million in assets since trading began on Tuesday. He added that while it was unexpected for Bitwise to forgo a Day One debut, typically used to boost volume and inflows, the approach allows for a clearer view of genuine, organic investor demand.
BSOL marks the first Solana-focused exchange-traded fund (ETF) available in the United States. While Bitwise had previously introduced a similar Solana staking product in Europe, the U.S. launch was postponed amid regulatory uncertainty surrounding staking practices. That landscape shifted in May when the U.S. Securities and Exchange Commission’s (SEC) Division of Corporation Finance clarified that certain proof-of-stake (PoS) activities are not considered securities offerings under federal law.
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The debut of BSOL signals growing investor confidence in Solana’s long-term potential and a broader shift toward diversified crypto exposure within traditional finance. As institutional players increasingly explore on-chain yield opportunities, products like this may help bridge the gap between decentralized networks and regulated investment vehicles.
Bitwise’s latest move not only expands access to Solana’s ecosystem but also reflects a changing regulatory environment that’s slowly adapting to the realities of proof-of-stake innovation. Whether this momentum sustains will depend on market conditions, but for now, it’s a notable milestone for both Bitwise and the maturing digital asset sector.
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MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
