Bitwise Solana Staking ETF’s Impressive Debut, Yet SOL Price Falls, What Happened?

Jakarta, Pintu News – On its market debut, the Bitwise Solana Staking ETF (BSOL) posted impressive numbers with a fund inflow of $69.5 million. Despite this, the price of Solana declined, contrary to the high expectations of large investors.

Bitwise Solana Staking ETF Records Phenomenal Debut

The Bitwise Solana Staking ETF (BSOL) officially traded on NYSE Arca with an initial capital of $222.9 million, recording a first-day trading volume of $56 million. Compared to other ETFs such as Canary’s HBAR ETF and Litecoin ETF, which only recorded volumes of $8 million and $1 million, BSOL performed far superior.

Bloomberg’s senior ETF analyst Eric Balchunas commented on the amount of assets gathered as “impressive” and added that true demand is now easier to measure as there is no additional first-day leverage. The ETF not only recorded a large inflow but also showed significant net asset value (NAV) growth.

According to data from SoSoValue, BSOL’s NAV has reached nearly $289 million, which is 0.01% of Solana’s (SOL) market capitalization. This marks BSOL as the first Solana staking ETF approved for trading in the United States, offering exposure to Solana (SOL) with an annualized yield of over 7% through 100% SOL staking.

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SOL Price Declines Despite Whale Accumulation

Despite heavy accumulation by whales in response to the BSOL launch, Solana (SOL) prices have fallen by more than 3% in the last 24 hours. The current price stands at $194, with a 24-hour low and high of $191.39 and $203.83. Trading volume has also seen a significant increase, up 25% in the last 24 hours, indicating high interest from traders.

In the derivatives market, there has been noticeable buying in recent hours. Data from CoinGlass shows that 4-hour Solana (SOL) futures open interest (OI) rose by almost 0.22%. Overall, the total open interest of Solana (SOL) futures increased 3% to $10.22 billion in 24 hours, with a 0.03% drop on CME and a 2.50% surge on Binance.

Outlook and Market Potential for BSOL

With a strong debut, BSOL sets a new standard for cryptocurrency-based financial products. The presence of products like BSOL in the United States market indicates a wider acceptance of cryptocurrencies as a legitimate asset class. It also opens up opportunities for investors looking to diversify their portfolios without having to directly engage in the physical purchase and storage of coins.

The market will continue to observe the interaction between ETF inflows and Solana (SOL) price movements going forward. With a structure that allows staking, BSOL is not only attractive to those seeking exposure to Solana (SOL) but also to those seeking passive returns through staking.

Conclusion

Although BSOL’s debut was marked by impressive numbers, Solana’s (SOL) price drop demonstrates the complexity of the cryptocurrency market which does not always move in line with expectations. However, the presence of products like BSOL in traditional financial markets signals a step forward for the integration of cryptocurrencies in mainstream investment portfolios.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Bitwise Solana Staking ETF (BSOL) Makes Record Debut Inflows, NAV. Accessed on October 30, 2025