The long-awaited Bitwise Solana Staking ETF (ticker: BSOL) officially debuted with $222.8 million in assets, marking one of the strongest starts for a crypto-linked fund in 2025.
Bloomberg ETF analyst Eric Balchunas noted that BSOL’s asset base is already half the size of the Solana Spot ETF (SSK), an impressive feat for its first trading day.
$BSOL is beginning life with $220m in assets. Impressive, already half the size of $SSK. Surprised they didn't hold off tho and have it come in on Day One to get volume and flows higher. Good news is now we'll have only organic, easier to measure true demand pic.twitter.com/bHXQuCRw1Z
— Eric Balchunas (@EricBalchunas) October 28, 2025
Unlike prior launches that relied on coordinated inflows, BSOL’s rollout was intentionally organic, designed to measure genuine market demand. The ETF provides investors with direct exposure to Solana (SOL) while earning staking rewards through on-chain validation, a structure that differentiates it from traditional spot ETFs.
According to Bitwise, the fund’s net asset value (NAV) was $26.21 as of October 27, with 8.5 million shares outstanding. BSOL carries an expense ratio of 0.20% and operates as a fully replicated, non-leveraged ETF, classified under the cryptocurrency macro strategy category on Bloomberg.
The launch comes amid a surge of institutional interest in Solana, following its growing dominance in DeFi activity, stablecoin transfers, and tokenization initiatives. Analysts view Bitwise’s successful ETF debut as a validation of Solana’s expanding role in institutional portfolios, particularly after the network’s inclusion in several U.S. and European spot ETF filings this month.
With over $220 million in day-one assets, BSOL’s early momentum suggests sustained appetite for yield-generating crypto exposure, bridging the gap between traditional finance and blockchain infrastructure as the ETF era expands beyond Bitcoin and Ethereum.
