U.S. spot Solana ETFs, managed by Bitwise, Grayscale, and Canary Finance, debuted with $200 million in inflows during their launch week, confirming institutional interest.
The launch signifies Solana's rise as a core crypto asset, yet highlights complex market dynamics; its price declined 8% despite substantial ETF demand.
Solana ETFs Launch with $200 Million Institutional Interest
Bitwise and Grayscale launched U.S. spot Solana ETFs on October 28, 2025, drawing significant institutional interest within the first week.
Bitwise’s BSOL ETF led with $197 million in inflows, while Grayscale’s GSOL ETF added $2.2 million. The launch demonstrated a notable interest in Solana as a mainstream crypto asset.
Market Response: Solana Price Drops Despite ETF Success
The nearly $200 million inflow within four days underscores institutional acceptance of Solana. Despite this, Solana's price fell 8% during the debut week, revealing market complexities.
These ETFs' performance could induce comparable effects seen with Bitcoin and Ethereum, which saw substantial market penetration. Solana appears to be poised for more institutional adoption.
Expert Insights: Solana's ETF Future and Market Potential
Comparing the Solana ETF launch to Bitcoin and Ethereum’s introduction, analysts predict Solana could see 5%+ of its circulating supply absorbed by ETPs in one to two years.
“It’s reasonable to benchmark [Solana] to the other ETP products that we have in the market. Over a, say, one- to two-year period, seeing at least 5% of the underlying [Solana] token held in these ETP structures would be my expectation.” — Zach Pandl, Head of Research, Grayscale Investments.
Grayscale’s Zach Pandl anticipates that over a multi-year period, Solana ETPs will hold significant portions of the token, mirroring trends seen in other leading cryptocurrencies.