Solana's (CRYPTO: SOL) first-ever U.S. staking ETF has launched to overwhelming demand, despite a government shutdown and a consolidating crypto market.
What Happened: Bitwise introduced the Bitwise Solana Staking ETF (BSOL), offering investors exposure to Solana's growth potential while earning its 7%+ average staking yield. The fund stakes 100% of its assets through Bitwise Onchain Solutions.
Bloomberg ETF analyst Eric Balchunas noted that BSOL debuted with $220 million in assets, already half the size of the REX-Osprey SOL + Staking ETF (SSK).
He added that BSOL saw strong first-day volume and organic inflows, estimating trading volume could close around $52 million.
Crypto trader MartyParty reported that BSOL surpassed $20 million in trading volume within the first 90 minutes of launch.
Bitwise CIO Matt Hougan said institutional investors are drawn to ETFs that generate strong on-chain revenue, an area where Solana leads all blockchains.
He expects BSOL to become a major institutional success.
Also Read: This Solana’s Code Points To A Rally To $253, But There’s A Catch
What's Next: The ETF launch sparked renewed bullish sentiment for Solana.
Analyst Ali Martinez sees potential for a move toward $210, while trader Scient reiterated his buy zone at $190–$175, calling SOL a stronger risk-reward play than Ethereum.
Even at $200, Solana still looks undervalued to him. He predicts if there is another dip toward $180, he will add more funded by trimming his spot ETH.
A 100%-win-rate trader also revealed he opened a $1.9 million 10x long position on SOL alongside increased Bitcoin longs, signaling strong conviction in a near-term rally.
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