Bitwise clients buy $25M in SOL, net purchases reach $948M

Bitwise’s Solana staking ETF pulled in $25 million in a single day on August 24, pushing cumulative net purchases of SOL to $948.2 million. That figure has been climbing steadily since BSOL launched on October 28, 2025, when it debuted with over $57 million in first-day inflows.

The $25 million haul represented the lion’s share of the $33.5 million that flowed into all Solana ETFs on the same day. It also helped the broader category hit a new cumulative record: $1.22 billion in total net inflows across US spot Solana products.

BSOL’s grip on the Solana ETF market

BSOL has captured approximately 80% of all inflows into US spot Solana ETFs since its launch.

Two structural advantages explain the gap. First, BSOL stakes 100% of its SOL holdings, generating network rewards estimated at roughly 6% gross. Second, the fee structure is aggressively competitive. BSOL charges a 0.20% management fee, and even that modest rate is being waived entirely for the first $1 billion in assets during an introductory period.

During the first half of 2026, BSOL alone accounted for $267.1 million in subscriptions. The staking mechanism generated approximately $17.7 million in income over the same period.

Inflows despite a brutal market

Digital asset prices dropped roughly 36% during the first half of 2026. Yet Bitwise reported $1.8 billion in net inflows across all its crypto products during H1 2026.

What $948M in cumulative purchases means for Solana

Average daily inflows for BSOL have ranged between $40 million and $50 million, suggesting the $25 million day on August 24 was actually below the fund’s typical pace. With cumulative purchases approaching $950 million, the fund is closing in on the point where the fee waiver ends, as it applies only to the first $1 billion in assets.