Spot Solana ETFs post record $188m weekly inflow as Bitwise leads
US spot Solana ETFs took in a record $188 million last week, with Bitwise's BSOL fund capturing about two-thirds of the money, CoinDesk reports.
Key points
- US spot Solana ETFs drew a record $188 million in net inflows in the week through Sept. 25, with all seven funds attracting money.
- Bitwise's BSOL led with about $128 million, or 68% of the weekly total, followed by Grayscale's GSOL at $28 million and Fidelity's FSOL at $18 million.
- Friday alone brought roughly $87 million, a daily record, including $56 million for Bitwise and $19 million for Grayscale.
- BSOL accounts for about $1.2 billion of the group's $1.6 billion in cumulative net inflows, roughly 76%.
- Solana developers are testing Alpenglow, an upgrade targeting payment finality of about 150 milliseconds versus 12.8 seconds, with no launch date announced.
US spot Solana ETFs attracted a record $188 million in net inflows last week, with Bitwise's BSOL fund taking about two-thirds of the money, CoinDesk reports. Every fund in the group recorded inflows during the five sessions through Sept. 25.
BSOL brought in roughly $128 million, or 68% of the weekly total, according to weekly figures shared by Solana's official account. Grayscale's GSOL followed with $28 million and Fidelity's FSOL with $18 million. Morgan Stanley, VanEck, Franklin Templeton and 21Shares accounted for the remaining $14 million between them.
Friday supplied nearly half the week's money. The funds added about $87 million that day, the largest daily intake since they went live, including $56 million for Bitwise and $19 million for Grayscale.
Record week for Solana funds
Spot ETFs let investors hold exposure to SOL through brokerage accounts without managing a crypto wallet. Net inflows measure money entering the funds after withdrawals, rather than the value of shares changing hands between traders.
Bitwise has dominated that demand. Data shows BSOL accounted for about $1.2 billion of the group's $1.6 billion in cumulative net inflows, or roughly 76%. Its 68% share last week was below that longer-term proportion, with competing funds collecting about $60 million between them.
The buying extended across crypto funds. US bitcoin ETFs attracted about $2.4 billion during the week, while ether products added roughly $690 million, according to CoinDesk calculations using Farside's daily figures. SOL traded around $119 during Monday Asian morning hours, still about 60% below its record near $293.
Bitwise dominates cumulative flows
The flows come as Solana developers test Alpenglow, an upgrade intended to shorten the time before a payment is considered irreversible from about 12.8 seconds to roughly 150 milliseconds. It reached the network's second public testing environment on Friday, but the speed remains a target and no launch date for the live blockchain has been announced.