Solana’s Staking ETF Attracts Half-Billion Inflows While Bitcoin and Ethereum Products See Outflows

Solana exposure in an ETF wrapper is finding real demand even as broader crypto risk sells off. Bitwise’s Solana Staking ETF (BSOL), which listed on the NYSE on October 28, has cleared $545 million in net inflows including $223 million of seed capital, with more than $126 million arriving in its first full week. Shares finished Friday up 5%, and the fund has logged eight straight sessions of inflows, including roughly $30 million on Thursday.

That strength stands in contrast to core crypto benchmarks. Since BSOL’s launch, the 11 spot Bitcoin ETFs have shed more than $2.1 billion in assets, while the nine Ethereum funds have seen $579 million in net outflows. Price action isn’t helping sentiment: Solana recently traded near $156, down over 16% on the week and about 29% on the month, per CoinGecko. Bitcoin has slipped roughly 16% since early October after tagging a record above $126,000. A Myriad prediction market shows only 13% expecting SOL to take out its $293 all-time high by year-end.

The throughline worth focusing on is product design. BSOL launched with 100% staking, which effectively pairs high-beta SOL exposure with a native yield inside a regulated wrapper. For allocators who want crypto upside but are cautious on near-term price chops, a staking-enhanced vehicle can feel like “smart beta” rather than raw leverage. That subtle framing shift matters when risk budgets are tight and committees want a definable source of return beyond directional bets. It also aligns with where Solana sits in the market psyche—large enough (around a $90 billion market value) to be institutionally relevant, but still perceived as a growth asset. As etf.com’s Sumit Roy noted, it wouldn’t be surprising if Solana ETFs collectively claimed around 5% of SOL’s market cap over time; by that yardstick, ~$500 million is still early innings.

Regulatory plumbing is the second edge. Despite a government shutdown clouding timelines, both BSOL and the Grayscale Solana Trust ETF (GSOL) reached market using NYSE- and Nasdaq-certified 8‑A filings—an alternative pathway that registers securities under the Securities Exchange Act of 1934. These products met the SEC’s generic listing standards adopted in September for commodity-based trusts, sidestepping a lengthier approval arc. GSOL has taken in about $114 million in net inflows, mostly seed capital. The same route enabled spot Litecoin and Hedera funds from Canary to begin trading last week. And the pipeline is filling: Bitwise has removed the “delaying amendment” from its S‑1 for a spot Dogecoin ETF, a step that could allow trading to commence in as few as 20 days absent SEC intervention, as industry watchers have pointed out.

None of this guarantees immediate price upside. SOL’s drawdown and the low probability assigned by traders to a new high by year-end suggest caution remains the base case. But steady daily inflows into a staking-enabled vehicle during a downturn signal a different buyer profile—allocators prioritizing structure, operational ease, and embedded yield over short-term momentum. If that behavior persists, you could see a measured re-rating of altcoin ETFs that are thoughtfully engineered, while undifferentiated wrappers on crowded assets continue to bleed in choppy macro.

In other words, the lesson isn’t “altcoins are back.” It’s that design, distribution, and regulatory strategy can still pull capital even when price is fighting a headwind—and that’s a playbook others are now racing to copy.