Bitwise ETF clients purchase $9.65M in Solana tokens as BSOL dominates US spot fund category

Bitwise’s Solana Staking ETF, known by its ticker BSOL, just facilitated the purchase of approximately $9.65 million worth of SOL on the open market to back new shares issued to clients. An on-chain transfer of roughly 95,887 SOL confirmed the transaction, adding to what has become a quietly dominant run for the fund since its October 2025 debut. That single purchase is a rounding error compared to the bigger picture. Cumulative net SOL purchases through BSOL have reached approximately $948 million, making it the clear heavyweight in the US spot Solana ETF category with around 80% of total net inflows. How BSOL became the default Solana fund When Bitwise launched BSOL on October 28, 2025, it carried a distinguishing feature that competitors lacked: the fund directly holds and stakes SOL, targeting a gross annual yield of roughly 7%. That means investors get exposure to SOL’s price movements and pocket staking rewards on top of it, all without having to manage a wallet or navigate validator selection themselves. The fee structure hasn’t hurt either. BSOL carries a management fee of 0.20%, which Bitwise has waived entirely for the first $1 billion in assets under management. The fund...