Bitwise Solana Staking ETF (BSOL) Launches with Strong Inflows and Trading Activity
- Bitwise Solana Staking ETF (BSOL) debuted on NYSE Arca with $222.9 million in seed capital.
- The ETF recorded $69.5 million in inflows on its first day, nearly 480% higher than REX Osprey SOL Staking ETF’s $12 million.
- Trading volume for BSOL reached $56 million, while other ETFs like HBAR and Litecoin saw volumes of $8 million and $1 million, respectively.
- The net asset value (NAV) of BSOL is approximately $289 million, accounting for about 0.01% of the total SOL market cap.
- Despite whale activity accumulating long positions in SOL, the price fell over 3% to around $194.
The launch of BSOL marks a significant development as the first Solana staking ETF approved in the U.S., providing investors with exposure to Solana and annual rewards exceeding 7%. The strong initial inflows indicate robust interest despite a recent decline in SOL prices.
On its debut, BSOL achieved notable inflows of $69.5 million, reflecting high demand for SOL investment opportunities amidst fluctuating market conditions.(Source)
