The Bitwise Solana Staking ETF (BSOL), traded on NYSE Arca under the ticker BSOL, has quickly become the most dominant exchange-traded fund launch of 2025. According to Bloomberg ETF analyst Eric Balchunas, BSOL’s first-day trading volume of $56 million outpaced all other ETF debuts this year, including the Rex-Osprey XRP ETF (XRPR), the Rex-Osprey SOL+Staking ETF (SSK), and several AI-themed funds. The fund was seeded with $220 million, which, if counted on day one, would have brought total volume to roughly $280 million—exceeding the debut of BlackRock’s iShares Ethereum Trust (ETHA).
Day Two Trading Volume Surges Above Day One
Investor enthusiasm did not wane on the second day. By 4 p.m. ET on October 29, BSOL recorded trading volume of $72 million and assets under management (AUM) of $282 million. Balchunas noted, “BSOL did more volume on Day Two. $72M is a huge number. Good sign.” The fund targets 100% staking of its SOL holdings, with a management fee of 0.20% that is waived for the first three months on the first $1 billion in assets. All staking rewards will be passed through to investors at no additional cost during that period.
Product Features and Custody
Teddy Fusaro, President of Bitwise, stated, “The highest volume ETF launch of 2024 was bitcoin ETF. The highest volume ETF launch of 2025 was Solana ETF (BSOL).” CEO Hunter Horsley added, “We built BSOL to be a high-quality product for investors: a low fee of 0.20% (waived to 0% for now) and 100% of SOL staked with technology from Helius. Thrilled to play our part in expanding access and beginning the work of bringing Solana to more mainstream investors.” Coinbase Institutional confirmed it serves as the exclusive custodian for BSOL through Coinbase Prime, providing a compliance-focused custody framework.
Analysts suggest that Solana’s strong staking economics and the ETF’s transparent structure could continue to attract institutional inflows throughout 2025. The Solana Foundation’s official X account posted that BSOL ranked #1 in trading volume among all approximately 850 ETF debuts in 2025 on the New York Stock Exchange.