- Bitwise launches the world’s first Solana ETF, holding 1.358 million SOL worth $263.8 million as of October 28, 2025.
- Average acquisition cost of $198 per SOL reflects strategic buying during a dip, positioning the fund for substantial upside.
- Holdings ballooned from $20M to $264M in one week, signaling robust institutional demand for Solana’s high-throughput blockchain.
In a seismic shift for the cryptocurrency landscape, Bitwise Asset Management has unveiled the world’s inaugural Solana (SOL) exchange-traded fund (ETF), catapulting the high-speed blockchain into the heart of institutional finance. Announced on October 28, 2025, the Bitwise Solana ETF (BITWISE SOL ETF) has already amassed a staggering 1.358 million SOL, valued at approximately $263.8 million based on current market prices. With an average acquisition cost of $198 per SOL, this move underscores Bitwise’s bullish conviction on Solana’s scalability and ecosystem growth amid a maturing crypto market.
The ETF’s rapid buildup, as charted by on-chain analytics firm CryptoQuant, paints a picture of aggressive accumulation. Starting modestly on October 21 with just under 100,000 SOL, holdings surged exponentially over the following week, peaking at 1.358 million SOL by launch day. The accompanying graph reveals a near-vertical climb in both balance and portfolio value, from $20 million to over $260 million in under eight days. This isn’t mere speculation; it’s a calculated bet on Solana’s fundamentals. Boasting transaction speeds up to 65,000 TPS and fees under a penny, Solana has long been the darling of DeFi developers and meme coin traders alike. Now, with ETF accessibility, retail and institutional investors can tap into SOL’s upside without the hassles of self-custody.
Bitwise’s entry into the Solana space arrives at a pivotal juncture. Following the transformative wave of Bitcoin and Ethereum spot ETFs earlier this year—which funneled billions into those networks—altcoin ETFs were an inevitability. Solana, with its $70 billion market cap and vibrant dApps ecosystem, was a prime candidate. “This ETF democratizes access to one of the most innovative blockchains on the planet,” said Bitwise CEO Hunter Horsley in a statement. “Solana’s real-world utility in payments, NFTs, and Web3 gaming positions it for explosive growth as adoption accelerates.”
Market reactions have been electric. SOL surged 8% in the 24 hours post-announcement, briefly testing $195 resistance before settling around $194. Trading volume spiked 25%, with futures open interest climbing to $4.2 billion on major exchanges. Analysts at CryptoQuant, led by contributor @Darkfrost_CoC
, highlight the ETF’s cost basis as a “steal” given SOL’s all-time high of $260 in 2021. If history rhymes with ETH’s post-ETF rally, Bitwise’s fund could catalyze a 50%+ SOL appreciation by year-end, especially as regulatory tailwinds from the SEC’s crypto-friendly pivot under new leadership take hold.
Yet, risks linger. Solana’s outage history—though mitigated by recent Firedancer upgrades—remains a specter for conservative allocators. Volatility tied to FTX fallout echoes persist, even as the network’s TVL hits $5.2 billion. Still, Bitwise’s launch signals a broader altcoin renaissance, potentially paving the way for Avalanche or Polygon ETFs next.
For crypto natives and TradFi crossovers alike, the Bitwise Solana ETF isn’t just a product—it’s a bridge to tomorrow’s digital economy. As SOL holders watch their tokens gain blue-chip legitimacy, one thing’s clear: the future is fast, and it’s on Solana.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
