The First Staking-Focused Spot Solana ETF in the U.S.

Bitwise has officially launched the first U.S. staking-focused spot Solana ETF (BSOL), powered by Helius-backed technological infrastructure. The ETF provides investors with direct spot exposure to Solana, while also being the first fund to fully stake its underlying assets.

The company emphasizes that this model enhances passive income potential and contributes directly to the Solana network’s on-chain activity. As a result, investors benefit from both price appreciation and staking rewards, making BSOL a unique bridge between traditional finance and on-chain yield generation.

Helius Partnership: On-Chain Efficiency and Security

Bitwise has formed a strategic partnership with Helius to power the technical infrastructure of the BSOL ETF. Helius’s high-performance on-chain solutions enable BSOL to execute staking operations securely and efficiently. This architecture ensures full on-chain transparency for the fund, allowing investors to track and audit staking rewards in real time.

The launch of Bitwise’s BSOL has also introduced direct competition with the previously released SSK Spot Solana ETF. However, BSOL’s fully integrated staking mechanism and Helius-backed infrastructure have quickly captured investor attention.
According to experts, this trend signals a broader shift in institutional behavior — investors are no longer seeking only price exposure, but also products that actively contribute to blockchain network growth.

A New Milestone for the Solana Ecosystem

Solana, with its high transaction throughput and low-cost infrastructure, stands out as an ideal blockchain for staking-oriented investment products.
The launch of BSOL marks a significant step forward in Solana’s institutional adoption journey.

The network’s staking mechanism not only provides investors with active income but also strengthens blockchain security and transaction validation. This makes Solana an attractive choice not only for retail investors but also for ETF-based professional funds seeking yield and reliability.

Bitwise BSOL Opens the Door to a New Institutional Era for Solana

With $69.5 million in first-day inflows, the Bitwise Solana Staking ETF (BSOL) made a remarkable debut among crypto investment products. This development underscores the growing role of staking-focused ETFs in shaping the future of financial markets.

Experts suggest that Bitwise’s move will boost Solana’s institutional visibility and pave the way for greater inclusion of non-Ethereum Layer-1 networks in global investment portfolios marking a pivotal step toward a more diversified and utility-driven crypto economy.

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“Solana Is the New Wall Street”

Bitwise’s Chief Investment Officer Matt Hougan made notable comments during a discussion with Akshay Rajan from the Solana Foundation. According to Hougan, financial institutions have begun to seriously evaluate stablecoins and tokenization technologies.

Despite Ethereum’s (ETH) dominance in the sector, Hougan emphasized that Solana’s transaction speed and low fees make it a more attractive alternative for Wall Street institutions.

Solana’s Growing Stablecoin Ecosystem

Data shows that the stablecoin supply on the Solana network has reached $14.9 billion, giving Solana a 4.7% market share in the stablecoin sector. However, Ethereum still leads with $172.5 billion in on-chain stablecoin value, maintaining a 59% market share. Still, experts suggest that the trend is beginning to shift. Hougan highlighted that thanks to faster transaction capacity and lower costs, networks like Solana are becoming appealing hubs for new projects.

The Solana team is continuing its preparations for Alpenglow, a major upgrade designed to enhance the network’s performance. Industry experts describe this upgrade as “the most comprehensive development in Solana’s history.” The update will enable institutional investors to conduct tokenization and DeFi transactions with greater speed and efficiency.

Solana ETF Decision Approaching

The Solana ETF application submitted by Bitwise to the U.S. Securities and Exchange Commission (SEC) is also on the agenda. Investors expect the final decision to be announced on October 16. If approved, the ETF could position Solana as “the most significant digital asset after Ethereum” in the eyes of institutional investors. This development could significantly boost Solana’s market capitalization and trading volume.

Statements from Bitwise executives reveal that Solana is emerging as a growing force not only among individual investors but also within the institutional finance world. Considering the Alpenglow upgrade, the expanding stablecoin ecosystem, and the potential ETF approval, the coming weeks are expected to be highly critical for Solana.

Crypto experts predict that Solana could become a serious competitor to Ethereum in the near future and may soon rise as “Wall Street’s new star” in terms of institutional adoption.

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Official Statement from Bitwise CEO

Hunter Horsley, CEO of Bitwise, confirmed via social media platform X that the company has submitted an S-1 form to the SEC for the Aptos ETF. Horsley stated:

“I can’t share details right now due to the quiet period, but I’m extremely excited about the strong momentum in the Aptos ecosystem.”

This statement has been interpreted as Bitwise potentially taking the first major institutional step in support of Aptos.

Bitwise Continues Altcoin ETF Moves

Bitwise remains one of the pioneering firms in the crypto ETF space. Following its Bitcoin and Ethereum ETFs, the company’s application for an Aptos ETF highlights growing institutional interest in Layer-1 blockchain projects.

Aptos is recognized for its high scalability similar to Solana and its Move language-based technology. Bitwise’s ETF application is seen as a sign of confidence in the Aptos ecosystem and its long-term potential.

SEC Approval Process and Market Expectations

The application comes at a time when the SEC has been accelerating crypto ETF approval processes. If approved, the Aptos ETF would become one of the first Layer-1 altcoin ETFs on the market.

Crypto analysts suggest that this move could boost Aptos’ price and increase institutional interest across the broader altcoin market.

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Bitwise: A “Core Asset” for Professional Investors

The report was authored by Bitwise CIO Matt Hougan, who emphasized that large platforms and professional allocators are now viewing Bitcoin as a “core portfolio” element. This shift comes after the launch of spot Bitcoin ETFs and their approvals on major national account platforms.

Bitwise noted that from 2017 to 2024, it received zero requests for long-term assumptions. However, in just this year alone, a dozen requests have been made—highlighting that institutional investors are no longer treating Bitcoin as a “side bet” but rather as a primary investment option.

Low Correlation and Strong Diversification

According to the preview report, Bitcoin’s expected returns, volatility, and correlations compare favorably with traditional asset classes. Bitwise defines Bitcoin’s correlation between −0.5 and 0.5, making it a low-correlation asset compared to stocks, bonds, or real estate.

For investors seeking diversification, this characteristic strengthens Bitcoin’s role in modern portfolios—alongside other assets like ethereum or even certain altcoins.

Institutional Accumulation and ETF Impact

Launched in January 2024, spot Bitcoin ETFs have quickly grown to massive scale. Today, these products manage more than $146 billion in assets and hold nearly 7% of Bitcoin’s total supply.

At the same time, corporations continue to accumulate BTC. Led by MicroStrategy, public company treasuries now hold 629,376 BTC—worth over $80 billion. To finance these large-scale purchases, many firms have turned to capital markets through equity and convertible debt offerings.

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