Solana spot ETFs take in a record $188 million as Bitwise's BSOL leads

U.S. spot solana exchange-traded funds drew a record $188 million in the five sessions through Sept. 25, a weekly high for the group with all seven funds recording net inflows, according to figures shared by Solana's official account. Bitwise's BSOL took about $128 million of that, roughly two-thirds, leaving the other six to divide about $60 million.

Grayscale's GSOL followed at $28 million and Fidelity's FSOL at $18 million, while Morgan Stanley, VanEck, Franklin Templeton and 21Shares split the remaining $14 million. Friday did most of the work: the group pulled in about $87 million that day, its largest session since going live, with Bitwise and Grayscale taking $75 million of that between them.

Over the funds' short life, the concentration runs higher still: the seven have absorbed about $1.6 billion in cumulative net inflows, BSOL accounting for about $1.2 billion of that, or 76%, so last week's 68% share sits below the longer-run proportion, and DAD's records list a $1.0 billion AUM change for BSOL on Aug. 26. The challengers are broadening the base, slowly. Bitwise still collects about seven of every ten dollars the category takes in.

The week was heavy across crypto wrappers generally, with U.S. bitcoin ETFs attracting about $2.4 billion and ether products about $690 million over the same stretch, by CoinDesk's calculations from Farside daily figures. Solana's $188 million is a fraction of bitcoin's haul, but the young category has only $1.6 billion of lifetime net inflows, so five sessions delivered close to an eighth of everything the seven funds have gathered in total.

None of it required a statute. With the Clarity Act dead at 49-50, spot solana funds set a weekly record anyway, the same pattern from September when spot bitcoin ETFs posted their biggest day in eleven months after a Senate cloture loss.

The network underneath the wrappers moves on a longer clock, and developers reached Alpenglow's second public test environment on Friday, a step toward the upgrade's target of cutting the time before a payment counts as irreversible from about 12.8 seconds to roughly 150 milliseconds; the speed remains a target, and no launch date for the live blockchain has been announced, as this publication noted when Alpenglow hit devnet.

The next weekly tally resolves whether Bitwise's 68% was a peak or a plateau: the challengers holding above 30% of a rising total would suggest the category is filling out, and a return to the mid-70s would suggest distribution is not yet what moves money here.