New York, NY – The Bitwise Solana Staking ETF (NYSE: BSOL) has demonstrated significant trading activity, with approximately $31 million in volume traded, according to a recent social media post by Bitwise CEO Hunter Horsley. This performance, alongside the Bitwise Hyperliquid ETF ($BHYP) which saw around $16 million in trading volume, has positioned both products ahead of many other crypto exchange-traded funds.
Hunter Horsley, CEO of Bitwise, highlighted the strong performance, stating in a tweet, "> ~$31,000,000 of Bitwise Solana Staking ETF $BSOL volume traded today. ~$16,000,000 of Bitwise Hyperliquid ETF $BHYP traded today. Both greater than most other crypto ETFs. Revenue chains punching above their weight." This suggests a notable investor interest in these specialized crypto ETPs.
The Bitwise Solana Staking ETF (BSOL) launched on October 28, 2025, as the first U.S. ETP with 100% direct exposure to Solana (SOL) and a built-in staking mechanism. It aims to maximize staking rewards for investors by staking nearly all of its SOL holdings through Bitwise Onchain Solutions, powered by Helius. Bitwise initially offered a 0% management fee for the first three months on the first $1 billion in assets, with a standard fee of 0.20% thereafter.
The launch of BSOL was a strategic move by Bitwise, capitalizing on a period when the SEC allowed exchanges to adopt generic listing standards for crypto ETFs. This enabled Bitwise to gain a "first-mover advantage" in the single-asset crypto ETF market, a strategy that has reportedly caused other issuers to re-evaluate their product launch plans. Analysts, including JPMorgan, have predicted that such "altcoin" ETFs could attract substantial capital, with Solana products potentially drawing $6 billion within their first six months.
The term "revenue chains" in Horsley's tweet likely refers to blockchain networks like Solana that generate significant transaction fees and other forms of revenue, indicating their economic activity and potential for value creation. This performance suggests that investors are increasingly looking beyond traditional cryptocurrencies like Bitcoin and Ethereum to explore opportunities in other high-growth blockchain ecosystems.
