Bitwise Solana staking ETF draws $20M weekly inflows as institutional demand grows

Bitwise's Solana staking ETF BSOL drew over $20 million in weekly inflows, CEO Hunter Horsley said, as institutions seek regulated yield on Solana.

Horsley's disclosure, reported by Cointelegraph, comes as spot Solana ETFs recorded $14.60 million in net inflows on Thursday — the largest single-day intake since late July, according to CoinGlass data.

The BSOL fund trades on traditional exchanges and pairs SOL price tracking with staking rewards currently yielding about 7 percent annually. Daily trading volume in BSOL reached $100 million on Aug. 24, according to Crypto Briefing. Solana has climbed more than 19 percent this week, trading at $93.73 as of 14:30 UTC, up 1.99 percent in the past 24 hours.

The sustained inflows come as the SEC has yet to approve a spot Solana ETF, leaving staking ETFs and existing spot products as the primary regulated avenues for institutional exposure. SOL faces its next resistance at $96.19, roughly 2.6 percent above current levels, with the 200-day exponential moving average at $89.28 serving as immediate support.

Staking ETFs Add Yield Component to Institutional Crypto Exposure

Unlike standard crypto ETFs that track an asset's price, staking ETFs lock up the underlying token to support network validation and distribute rewards to holders. This dual structure — price exposure plus yield — has drawn interest from both retail and institutional investors seeking income in a low-yield traditional finance environment.

The $100 million daily volume milestone for BSOL on Aug. 24 suggests the product structure is gaining traction. Bitwise's staking ETF joins a growing field of yield-generating crypto products, though it remains one of the few offering Solana exposure through a regulated vehicle.

SOL Approaches Key Technical Resistance

Solana's rally has pushed the token above its 200-day exponential moving average at $89.28, with the relative strength index near 79 — firmly in overbought territory. The 50-day EMA sits at $76.91 and the 100-day EMA at $78.63, providing support levels if a pullback occurs.

A sustained close above the 200-day EMA could open the path toward $96.19, the next major resistance area. However, the overbought RSI reading raises the possibility of short-term consolidation before further upside.

The broader crypto market has also benefited from a US Treasury announcement expanding debt buyback operations, which improved liquidity conditions and boosted risk appetite across digital assets. Bitcoin trades at $76,950, down 1.41 percent, while Ethereum is at $2,420, up 0.50 percent.

The success of staking ETFs like BSOL could encourage other asset managers to launch similar products, potentially expanding the range of regulated crypto investment vehicles. For Solana, sustained ETF inflows provide a structural demand source that could support price stability even as the SEC's stance on spot Solana ETFs remains unresolved.

This article is for informational purposes only and does not constitute investment advice.