In a remarkable week, Solana exchange-traded funds (ETFs) in the U.S. garnered a historic $188 million in net inflows, with every fund in the category seeing an increase in investment.
Leading the surge, Bitwise’s BSOL attracted approximately $128 million, accounting for 68% of the total inflows. Cumulatively, BSOL has amassed around $1.2 billion of the group’s total $1.6 billion inflows.
The record inflows coincided with Solana developers’ testing of the Alpenglow upgrade, which aims to decrease payment finality from about 12.8 seconds to approximately 150 milliseconds.
All Funds Saw Inflows, with Significant Daily Record on Friday
During the week leading up to September 25, all seven Solana ETFs received new investments. Specifically, BSOL raised about $128 million, while Grayscale’s GSOL brought in $28 million, and Fidelity’s FSOL added $18 million. The remaining $14 million was distributed among Morgan Stanley, VanEck, Franklin Templeton, and 21Shares.
On Friday alone, nearly half of the weekly inflows were recorded, totaling around $87 million—the highest daily intake since the funds were launched. Bitwise contributed $56 million, while Grayscale added $19 million on that day.
These spot ETFs provide investors with exposure to SOL through brokerage accounts without the need to manage a cryptocurrency wallet. The net inflows indicate the amount of money entering the funds after accounting for withdrawals, rather than just the trading of shares among investors.
Bitwise has been a dominant player in this space, with its BSOL product representing about $1.2 billion of the total $1.6 billion in net inflows, approximately 76%. Last week’s 68% share was slightly lower than its long-term average, as other funds collectively attracted around $60 million.
The positive momentum extended to the broader cryptocurrency market, with U.S. Bitcoin ETFs drawing in about $2.4 billion and Ethereum products adding roughly $690 million during the same week, based on CoinDesk’s calculations utilizing Farside’s daily data.
As for SOL, it was trading around $119 during the early hours of Monday in Asia, still approximately 60% below its peak of nearly $293.
The inflows are happening concurrently with the testing of Alpenglow by Solana developers, which is designed to significantly shorten the time required for payment finality. This upgrade has recently reached the second public testing phase, although a launch date for the live blockchain has yet to be confirmed.
Read More: Solana’s 150-millisecond settlement upgrade reaches second public test network