The US crypto market is witnessing substantial institutional interest in staking-focused ETFs. Bitwise’s new Solana product, the Bitwise Solana Staking ETF (BSOL), has seen over $222 million in assets under management on its first day of trading, indicating a surge in investor confidence and activity. This success follows the launch of the REX-Osprey Solana Staking ETF (SSK) which garnered around $12 million in first-day trading volume.
The launch of BSOL marks the first US Solana ETF offering exposure to SOL and estimated staking rewards, and signals a growing momentum in the adoption of these products. Notably, this success comes after the SEC clarified its stance on proof-of-stake (PoS) activities in May and August, which helped pave the way for a more favorable regulatory environment.
This surge in institutional interest is part of a broader trend observed across the crypto market. After witnessing significant investments in Bitcoin and Ethereum ETFs earlier this year, analysts are now focusing on alternative assets like Solana and XRP. JP Morgan recently predicted that upcoming Solana and XRP ETFs could attract billions of dollars in inflows within their first six months, potentially exceeding the early performance of Ether’s ETFs.
This growing demand for crypto ETFs highlights the increasing acceptance and maturity of the market.