Bitwise’s Solana Staking ETF (BSOL) has become the first exchange-traded fund tracking Solana to surpass $1 billion in assets under management, less than a year after its launch.
The milestone comes amid a sharp increase in activity across both the Solana ETF market and the underlying token.
BSOL recorded more than $126 million in trading volume on Friday, its strongest single-day performance to date. Trading volume also exceeded $500 million across the seven sessions preceding the latest record.
The fund has attracted inflows for seven consecutive trading days, bringing cumulative ETF inflows into Solana products to approximately $1.26 billion. That figure represents roughly 2.2% of SOL’s current market capitalization, highlighting the growing scale of exchange-traded demand relative to the underlying market.
Institutional accumulation has also continued outside the ETF market. DeFi Dev Corp purchased another 19,000 SOL for approximately $1.86 million, taking its holdings to around 2.33 million SOL, worth approximately $182 million based on the figures provided.
Bitwise’s XRP ETF has also continued to attract capital. The product recorded an inflow of $15.40 million, while its assets under management stood at approximately $603 million at the time of writing.
Together, the figures point to increasing institutional participation across crypto assets beyond Bitcoin and Ethereum, with Solana emerging as one of the main beneficiaries of the shift.
Leverage adds momentum to SOL’s move
The ETF activity has coincided with a strong move in SOL. The token gained roughly 19% over the past week, although the rally has subsequently encountered some selling pressure.
Futures activity has been particularly pronounced. Futures trading volume reached approximately $14.6 billion, compared with around $1.7 billion in spot volume. The large difference suggests that derivatives and leveraged positioning have played an important role in amplifying SOL’s recent price movement.
At the latest reading, SOL was trading at $103.43, down 2.25% over 24 hours. Its market capitalization stood at approximately $60.42 billion, representing a 2.23% daily decline.
Trading activity remained elevated despite the pullback. Daily volume fell 16.15% to $4.94 billion, leaving the volume-to-market-capitalization ratio at approximately 8.17%.
The combination of rising ETF demand and elevated derivatives activity creates a more complex picture for SOL. Institutional inflows can provide sustained buying pressure, while heavy futures activity can accelerate both upward and downward moves as leveraged positions are opened or closed.
Another factor investors are watching is Solana’s changing monetary policy.
Faster disinflation changes SOL’s supply outlook
Solana validators recently approved a proposal to accelerate the network’s disinflation schedule. The vote was the first proposal to pass under Solana’s new on-chain governance system.
Known as SGP-0002, or “Double Disinflation,” the proposal increases the annual disinflation rate from 15% to 30%. Importantly, it does not alter Solana’s long-term inflation target, which remains at 1.5%.
Final voting results showed 67% support for the proposal, compared with 25.16% opposed and 7.84% abstaining. Participation represented 60.7% of eligible stake.
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The accelerated schedule means Solana could reach its terminal 1.5% inflation rate considerably sooner. Solana Compass estimates that the target could now be reached in approximately 2.8 years, compared with around 5.7 years under the previous schedule.
The change is expected to reduce the number of new SOL entering circulation. Estimates indicate that approximately 18.9 million fewer SOL could be issued over the next six years under the revised schedule.
For existing SOL holders, lower issuance could reduce dilution over time. The trade-off is that the faster reduction in inflation also means lower staking rewards for validators and delegators.
The monetary-policy change therefore adds another variable to the investment case for SOL. While ETF demand and institutional accumulation are increasing access to the asset, the network itself is simultaneously moving toward a lower rate of new-token issuance.
For now, the combination of stronger exchange-traded demand, substantial derivatives activity and a tightening issuance trajectory is putting Solana at the center of renewed institutional interest.
The sustainability of the move, however, will depend on whether ETF inflows continue and whether the current futures-driven momentum can translate into lasting spot demand.
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