Bitwise's Solana ETF Surpasses $1 Billion

Bitwise's Solana staking ETF, BSOL, has become the first Solana-focused exchange-traded fund to surpass the $1 billion threshold in managed assets. The fund reached this level in less than a year since its launch, indicating a growing institutional interest in the Solana ecosystem. On Friday, BSOL achieved a trading volume of over $126 million, marking its strongest performance on a daily basis. In the seven trading days leading up to the latest record, total volume exceeded $500 million. With the fund experiencing net inflows for seven consecutive sessions, the total ETF inflow directed towards Solana products has reached approximately $1.26 billion. This amount corresponds to about 2.2% of SOL's current market capitalization. Institutional purchases were not limited to the ETF; DeFi Dev Corp also acquired an additional 19,000 SOL for approximately $1.86 million. The activity on the ETF side coincided with a strong rise in SOL prices. Over the past week, SOL has gained about 19% in value. However, selling pressure has emerged following the rise. Recent data shows SOL trading at $103.43, with a 24-hour loss of 2.25%. The market capitalization has also decreased by 2.23% to $60.42 billion. Futures trading volume reached approximately $14.6 billion, while spot market volume remained around $1.7 billion. Solana's monetary policy has also drawn attention; network validators accepted a proposal to increase the annual disinflation rate from 15% to 30%.