The first US-listed Solana spot ETF saw a net inflow of $69.45 million on its first day, bringing its net asset value to $289 million.

On October 28th, the first US Solana spot ETF—the Bitwise Solana Staking ETF (ticker symbol BSOL)—officially listed on the NYSE. According to SoSoValue data, it saw a net inflow of $69.45 million on its first day of trading, with a trading volume of $57.91 million. BSOL's initial public offering (IPO) size was $223 million, and its net asset value (NAV) after the first day of trading was $289 million, resulting in a net asset value ratio (market capitalization as a percentage of total market capitalization) of 0.27%. Notably, the Grayscale Solana Trust ETF (ticker symbol GSOL) will also be converted from a trust to an ETF on October 29th and officially listed on the NYSE, adding another Solana spot ETF to the US market. The Bitwise Soana Staking ETF, issued by Bitwise Asset Management, was automatically approved for listing on October 28th due to the current US government shutdown, as the issuer met the General Listing Standard for Commodity Trusts (GST) and obtained 8-A certification from the exchange. Its features include: support for cash and physical redemption; physical settlement available only for APs; additional returns on Solana through staking; 6% of staking returns going to the issuer, custodian, and staking provider; and the remaining 94% going to the ETF. The management fee is 0.20%, waived for the first three months after listing and while the fund size remains below $1 billion.