Bitwise BSOL ETF Draws Over $110M in Weekly Inflows, CEO Hunter Horsley Says

Bitwise's Solana staking ETF, BSOL, took in more than $110 million during the trading week of 21 to 25 September 2026, according to Bitwise CEO Hunter Horsley, who posted the figure on X shortly after the US market close on Friday. The Bitwise Solana Staking ETF holds SOL directly and stakes all of it, and it has taken the bulk of the money flowing into US spot Solana SOL$122.22+3.8% ETFs since it listed on NYSE Arca in October 2025.

Horsley added that "many seem to be thinking Solana looks good." His number is his own statement about his own fund. Independent trackers had not published Friday's flows at the time of writing, but the data they had published through Thursday points the same way: US spot Solana ETFs drew $101.55 million from Monday to Thursday, according to SoSoValue data reported by CryptoSlate. That figure covers every US spot Solana ETF, BSOL included.

BSOL daily inflows from 21 to 24 September, per SoSoValue

Per-fund figures show BSOL leading the Solana ETF category on every day this week for which a breakdown was published. BSOL took $14.4 million of the category's $26.1 million on Monday 21 September, per CryptoBriefing, then $26.38 million of $28.87 million on Tuesday 22 September, according to SoSoValue data carried by Phemex. On Thursday 24 September, BSOL added $27.97 million of the category's $32.8 million, per SoSoValue figures reported by KuCoin, with Fidelity's FSOL taking $4.84 million.

Those three days alone add up to $68.75 million for BSOL. Horsley's figure for the full week means Friday 25 September, the day he posted, carried a large share of the remainder.

After Thursday's session, BSOL's cumulative net inflows since launch stood at $1.162 billion, according to the same SoSoValue data. Across all US spot Solana ETFs, cumulative net inflows reached $1.52 billion with $1.81 billion in net assets, per CryptoSlate's SoSoValue figures. That puts roughly three-quarters of all the money that has entered the category into the Bitwise fund.

The Solana flows landed in a heavy week for crypto ETFs overall. CryptoSlate's SoSoValue tally had US spot ETFs tracking bitcoin, ether, SOL, XRP and Zcash drawing about $3.04 billion from Monday to Thursday: $2.25 billion into bitcoin funds, $602.94 million into ether funds, and Solana third at $101.55 million, ahead of XRP's $52.95 million.

How the Bitwise Solana Staking ETF earns staking rewards

BSOL is a spot ETF that buys SOL and stakes it, so the fund earns the network rewards validators pay to delegators. Bitwise's fund page lists 100% of assets staked, a gross staking reward rate of 5.88% and a net rate of 5.52% after costs, and a 0.20% sponsor fee, as of 23 September 2026. Bitwise says it pairs its own institutional staking operation with technology from Solana infrastructure provider Helius hSOL$145.18+3.8%.

As of 23 September, the fund held 10,719,484.63 SOL against net assets of $1,258,258,987 and 77.81 million shares outstanding, per the same page. Those figures predate Thursday's and Friday's inflows.

On-chain, the validator listed as Bitwise Onchain Solutions ranks fifth on Solana by delegated stake, with 10.6 million SOL, or 2.4% of network stake, in Solana Compass's validator data on 25 September. Its active stake rose from 9.79 million SOL in epoch 1039 to 10.60 million SOL in epoch 1042, as more than 800,000 SOL of new delegations activated over three epochs.

Each BSOL share represented 0.137765 SOL on 23 September, a ratio that rises as staking rewards accrue to the fund. For someone who would rather hold the asset and delegate SOL to a validator directly, the ETF adds a brokerage-account wrapper, a fee and the fund's own risk disclosures. Horsley's post carried the standard prospectus notice: BSOL "is not suitable for all investors," is not registered under the Investment Company Act of 1940, and "an investment in BSOL is not the same as a direct investment in Solana (SOL)."

US spot Solana ETF inflow streak and the SEC's staking token FAQ

US spot Solana ETFs had logged net inflows for 12 consecutive weeks through the week ending 18 September, according to SoSoValue data cited by 24/7 Wall St, a run we covered in our report on the 12-week streak. BSOL sat at the centre of that run, and on 18 September it logged an $85 million trading session as SOL climbed back above $112. The category's final total for this week will depend on Friday's flows from every issuer, which trackers had not published when Horsley posted.

Horsley posted on the same day the SEC's Division of Corporation Finance published staff FAQs saying liquid staking receipt tokens can be treated as digital commodities, which we covered separately. The FAQ does not name any ETF.

The more telling detail in this week's data is concentration. Three-quarters of the category's cumulative inflows have gone to one fund, and that fund stakes everything it holds. For Solana, a growing block of institutional SOL now sits staked through a single issuer, earning the same validator rewards as any other delegator on the network.