Solana continues to attract the attention of institutional investors. The Bitwise Solana Staking ETF (BSOL), launched on October 28, had a stellar start, while Grayscale’s Solana Trust ETF (GSOL) is set to make its debut on the NYSE Arca. Two strong signals for institutional adoption of the Solana ecosystem, even though SOL’s price remains under short-term pressure.
Un démarrage tonitruant pour Bitwise
On its first day of trading, BSOL recorded an impressive nearly $60 million trading volume, with $217 million in assets under management. The fund’s goal is clear: to offer 100% exposure to SOL staking, while targeting an average yield of around 7%. An approach that combines passive yield and exposure to one of the most dynamic DeFi networks.
According to Bitwise, this first day was a real success. Bloomberg confirms similar figures, with $69 million in net inflows, highlighting the growing interest of investors in staking derivatives, a segment still underexploited by major asset managers.
Grayscale entre dans la danse
Grayscale, on the other hand, wasted no time in responding. Its Grayscale Solana Trust ETF (GSOL) will be listed today on NYSE Arca, with a similar positioning: direct exposure to SOL and potential staking rewards. For Grayscale, this initiative aims to strengthen its presence in the crypto ETF market following the success of its Bitcoin and Ethereum products.
The timing of the launch is not coincidental: the two funds arrive as stabilcoin market capitalization on Solana has skyrocketed, jumping from $5 billion to $16.25 billion in a year. A growth of +200%, reflecting the vitality of its DeFi ecosystem and the renewed confidence of institutional investors.
SOL toujours au ralenti malgré le lancement des ETF Solana
However, despite these major announcements, SOL’s price remains below $200, hovering between $195 and $196 at the time of writing this article. After a brief dip below $200, buyers returned to support the price, but the overall volume remains 44% below the weekly average.
Charts show a consolidation zone between $194 and $203, with lower highs, a sign that sellers still have the upper hand. Below $194, the next risk zone is between $188 and $180.
Solana reste au centre du jeu
Despite trader caution, these new ETFs mark a decisive step: Solana is gradually establishing itself as the third force in the institutional market, behind Bitcoin and Ethereum. The simultaneous arrival of Bitwise and Grayscale confirms a trend: major funds no longer want to miss out on the most performing ecosystem of the moment. In contrast, the Hedera (HBAR) and Litecoin (LTC) ETFs recorded no net inflows on their launch day yesterday, as all eyes seemed to be on the Solana staking product.
And while the market is still hesitating to break the $200 mark, Wall Street seems to have already chosen its side.
