Solana ETFs draw record $188 million in a week as Bitwise takes two-thirds of inflows
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
U.S. spot Solana exchange-traded funds (ETFs) attracted a record $188 million in net inflows last week, with Bitwise’s BSOL fund accounting for about $128 million, or 68% of the total. All Solana ETFs saw new money inflows, with Grayscale’s GSOL and Fidelity’s FSOL also contributing. The surge coincided with Solana developers testing an upgrade called Alpenglow, designed to significantly reduce transaction finality time.
Why it matters
The record ETF inflows indicate strong investor demand to gain exposure to Solana (SOL) through brokerage accounts without managing crypto wallets. The network upgrade could enhance Solana’s usability by speeding transaction finality, potentially increasing its appeal to investors and users. The source does not explicitly state broader market or industry impacts beyond investor demand.
Key context
Spot ETFs allow investors to hold SOL exposure indirectly via brokerage accounts, simplifying access to the crypto asset. Bitwise BSOL leads in cumulative inflows, capturing approximately $1.2 billion out of $1.6 billion total since launch. The Alpenglow upgrade is in its second public test environment and targets shortening payment finality from about 12.8 seconds to roughly 150 milliseconds, but no official launch date is provided.
Key numbers and entities
Bitwise (BSOL) attracted $128 million last week and $1.2 billion cumulatively. Grayscale’s GSOL received $28 million and Fidelity’s FSOL $18 million in weekly inflows. Other fund managers mentioned include Morgan Stanley, VanEck, Franklin Templeton, and 21Shares, accounting for the remaining $14 million. U.S. bitcoin ETFs drew about $2.4 billion, and ether products $690 million in the same period. SOL traded around $119, down about 60% from its all-time high near $293.
What remains unclear
The exact timeline for Alpenglow’s full deployment on the live Solana blockchain is not announced. The source does not clarify how sustained these ETF inflows might be or broader implications for Solana’s price and adoption beyond the immediate inflows and network upgrade testing.