Solana ETFs See Record $188M Weekly Inflows as Bitwise Leads Demand

U.S. spot Solana ETFs recorded their strongest weekly inflows since launch, attracting $188 million as all seven funds ended the week with net additions. Friday alone brought in a record $87 million.

Bitwise’s BSOL accounted for the largest share, collecting approximately $128 million across the five trading sessions through Sept. 25. Grayscale’s GSOL ranked second with $28 million, followed by Fidelity’s FSOL at $18 million, according to weekly data published by Solana’s official account.

Morgan Stanley, VanEck, Franklin Templeton and 21Shares together made up the remaining $14 million.

Friday Drives Nearly Half of Weekly Inflows

The majority of the weekly surge came toward the end of the period. Solana ETFs recorded about $87 million in net inflows on Friday, nearly half of the week’s total and the highest single-day amount since the products launched.

Bitwise attracted $56 million that day, while Grayscale recorded another $19 million.

Spot ETFs provide investors with exposure to SOL through traditional brokerage accounts without requiring them to hold tokens or manage private crypto wallets. Net inflows represent the amount of capital entering the funds after withdrawals, rather than changes caused by investors trading ETF shares among themselves.

Bitwise Maintains Dominant Position

Bitwise has also captured the largest share of cumulative demand for Solana ETFs.

BSOL has received roughly $1.2 billion of the group’s approximately $1.6 billion in cumulative net inflows, giving it about 76% of total inflows since launch.

Its roughly 68% share during the latest week was below that longer-term figure, as competing products collectively attracted around $60 million.

Bitcoin and Ether ETFs Also See Inflows

The strong demand was not limited to Solana-related products.

U.S. spot bitcoin ETFs brought in approximately $2.4 billion during the week, while ether ETFs recorded around $690 million, based on CoinDesk calculations using Farside’s daily flow data.

SOL was trading near $119 during Monday’s Asian morning session. Despite the recent ETF demand, the token remained roughly 60% below its record high of about $293.

Alpenglow Upgrade Moves Into Second Test Phase

The ETF inflows come as Solana developers continue testing Alpenglow, a proposed network upgrade designed to significantly reduce settlement times.

The upgrade aims to cut the time required for a transaction to become effectively irreversible from roughly 12.8 seconds to around 150 milliseconds.

Alpenglow entered Solana’s second public test environment on Friday. The 150-millisecond figure remains a target, and developers have not yet announced a date for deploying the upgrade on the live network.