Bitwise’s Solana ETF saw over $126 million in net inflows in its first week, while other Bitcoin and Ethereum funds lost $2.6 billion in assets. BSOL generated $545 million since debut, with $223 million in seed investments. Despite a market-wide downturn, BSOL’s share price increased by 5% in Friday trading.

Bitwise CEO Hunter Horsely confirmed over $500 million in total inflows for BSOL since launch, with continuous daily inflows since the ETF’s debut. While SOL’s price has dropped, BSOL’s success is attributed to its 100% staking feature, attracting investors seeking Solana exposure.

Solana’s market value of $90 billion has driven investor interest, contributing to BSOL’s success. etf.com Senior Analyst Sumit Roy believes Solana has a committed following, comparable to Bitcoin and Ethereum, and expects Solana ETFs to account for at least 5% of the market cap. BSOL’s staking feature also enhances its appeal.

The listing of Bitwise and Grayscale Solana ETFs surprised observers, as fears of a government shutdown delaying the regulatory process were averted. The NYSE’s 8-A filings provided an alternative route for ETF approvals, meeting SEC standards for commodity-based trusts. GSOL has received $114 million in net inflows, mainly from seed investments.

Altcoin-focused funds like spot Litecoin and Hedera are emerging, with more expected due to SEC rule changes. Bitwise’s Dogecoin ETF could start trading within 20 days after a “delaying amendment” was removed from its S-1 prospectus. This move signals a potential launch in the near future, pending SEC approval.

Read more at Yahoo Finance: Bitwise Solana ETF Sees Steady Demand as Bitcoin, Ethereum Funds Shed Assets