Solana ETFs draw record $188 million in a week as Bitwise takes two-thirds of inflows
All seven funds attracted money, while Friday’s $87 million intake set a daily record.
U.S. spot solana exchange-traded funds attracted a record $188 million last week, with Bitwise’s BSOL taking about two-thirds of the money as every fund in the group recorded inflows.
BSOL brought in roughly $128 million during the five sessions through Sept. 25. Grayscale’s GSOL followed with $28 million and Fidelity’s FSOL with $18 million, according to weekly figures shared by Solana’s official account. Morgan Stanley, VanEck, Franklin Templeton and 21Shares accounted for the remaining $14 million.
Friday supplied nearly half the weekly total. The funds added about $87 million that day — the largest since going live — including $56 million for Bitwise and $19 million for Grayscale.
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 the firm’s BSOL product 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. U.S. 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, according to CoinDesk data, still about 60% below its record near $293.
The flows come as Solana developers are also testing 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. The speed remains a target, and a launch date for the live blockchain has not been announced.
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Asanat Analysis — Why it matters
Solana's ETF complex is experiencing genuine institutional adoption momentum, with $188 million in weekly inflows representing a meaningful thermal signature for SOL's infrastructure maturity. That all seven offerings attracted capital—rather than flows concentrating in a single dominant player—suggests diversifying custody preferences and venue competition among allocators. Bitwise's two-thirds share ($125M) reflects both brand positioning and potentially lower fee structures in a crowded spot ETF market.
The $87 million daily record signals tactical accumulation windows rather than sustained conviction flows. For context, this follows months of ETF approval anticipation; front-running behavior typically peaks on announcement dates then normalizes. The real institutional signal will emerge if these inflows sustain through Q4 volatility cycles or compress during macro risk-off episodes. The seven-fund dispersion matters: fragmented Solana ETF adoption (unlike Bitcoin's BTC/iShares dominance) could indicate price discovery is still being contested across venues.