Bitwise Solana ETF Hits $1 Billion Milestone in Market First

As of August 26, the fund held 9.33 million SOL, valued at approximately $1.018 billion. According to Bloomberg senior ETF analyst Eric Balchunas, the broader category of Solana funds has successfully retained the majority of its $1.7 billion in cumulative inflows, avoiding significant redemptions even during the sharp market downturn observed earlier this year. The product, which trades on the NYSE Arca, maintains a 96% staking rate on its holdings, providing a 5.80% net reward rate for investors.

Bitwise’s early entry into the market has proven decisive in capturing investor demand. By mid-May, the fund accounted for roughly 81% of the assets held by competing Solana products. While the fund’s net asset value faced downward pressure throughout 2026 due to the broader decline in SOL prices, sustained investor subscriptions—including $25 million in net inflows on August 24 alone—have fueled its growth toward the billion-dollar mark. The fund’s structure allows for direct exposure to the token while automatically reinvesting staking rewards, a feature that differentiates it from standard digital asset vehicles.