Bitwise's Solana (SOL) Staking ETF Takes $1.30M Daily Inflow

Bitwise Fund Carries Solana's Friday Inflow

US spot digital-asset ETF flows split along asset lines on Friday, and Solana (SOL) ended the session on the receiving side. The Solana (SOL) price sits at $119.09 per live COINOTAG monitoring, down 0.9% over 24 hours, so the day's positive fund flow landed against a mildly softer tape. Aggregate data from SoSoValue shows the four spot ETFs in scope, covering Zcash, XRP, Solana and Hyperliquid, posted a combined net outflow of $25.54 million on the day. The heaviest drag came from Zcash, whose ZCSH fund alone lost $26.93 million in a single session, the day's largest swing. The Bitwise XRP ETF added another $3.28 million of outflow. Hyperliquid ran the other way, taking in $3.37 million through Grayscale's Hyperliquid Staking ETF (HYPG). Solana's own take was smaller but positive: $1.30 million of net inflow, all of it captured by Bitwise's Solana Staking ETF (BSOL). The arithmetic frames the session: Zcash and XRP bled a combined $30.21 million, while Solana and Hyperliquid absorbed a combined $4.67 million, so the four-asset ledger closed negative even with two assets attracting fresh capital. Both of the day's positive flows also ran through staking vehicles rather than plain spot wrappers, a pattern the Solana (SOL) and Hyperliquid complexes share. Bitwise's BSOL has been the standout conduit for Solana demand, and its single-fund capture of Friday's inflow shows how concentrated the asset's ETF flows remain; Grayscale's HYPG shows the same concentration on Hyperliquid. Withdrawal pressure, in other words, has not erased the money that arrived earlier: all four assets remain in cumulative net inflow since their launches.

Cumulative Inflows Absorb Friday's Noise

Zoom out to the cumulative ledger and Friday's divergence looks less dramatic. BSOL's net inflows since launch stand at $1.219 billion, and the Solana spot ETF complex overall holds $1.905 billion in net assets against $1.608 billion of cumulative inflows. That build-up includes the stretch our desk tracked when Solana ETFs drew a record $188 million in weekly inflows, and it is the same ledger on which Solana ETF assets passed XRP funds at $1.91B. The Zcash complex tells the other story: ZCSH still carries $751 million in net assets and a $213 million cumulative inflow, so Friday's hit dented but did not reverse its record. Across XRP, the Bitwise fund's cumulative inflow stands at $677 million, while the complex as a whole holds $1.658 billion in net assets against $1.791 billion of cumulative inflows. Hyperliquid's Grayscale vehicle HYPG has taken $153 million cumulatively; the complex holds $478 million in net assets and $346 million of cumulative inflows. One caveat applies to the staking reading: a single daily print records where money went, not why, so the day's data cannot prove the staking structure drove the inflows. Solana (SOL) secures its network through delegated proof of stake, and staking ETFs pass that yield through to shareholders, which gives the wrapper a different return profile from a plain spot fund. Usage has firmed too: Solana app revenue hit $144.25 million in September, an eight-month high generated across the network's dapp economy. For a running view of the asset's fund flows, see our Solana market coverage. BSOL's share of the day's inflow was total, meaning the other Solana wrappers recorded net zero between them.

$123.15 Reclaim or $118.22 Break

An update as of October 4 shows the divergence between price and fund flow widening. Solana reclaimed the $120 level, trading near $120.24 with an intraday high of $120.27 and gaining roughly 1.5% over 24 hours, up about 16.5% over the past 30 days. Yet weekly inflows into US spot Solana ETFs collapsed to $2.4 million for the week ended October 2, down roughly 98.7% from the prior week's $188 million, with daily prints showing $12.7 million and $5.4 million of inflows on September 28 and 29 against $11.1 million and $5.9 million of outflows on September 30 and October 1. On the network side, the Alpenglow upgrade, which targets cutting finality from about 12.8 seconds to roughly 150 milliseconds, is in devnet and testnet testing with no mainnet date set, and Open USD (OUSD) is now live on Solana with more than $1 billion in liquidity commitments from founding partners including Coinbase, Mastercard, Shopify, Stripe and Visa.

(as of 14:09 UTC) COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $119.5150 support at 72/100, driven by the confluence of the S1 pivot, the 0.114 Fibonacci retracement and a low-volume node, while the $124.9358 resistance scores 84/100 on the Donchian upper channel, the Keltner upper band, the swing high and the 0.000 Fibonacci extension. Momentum is stretched: the RSI sits at 66.09 inside a labeled uptrend, but the MACD signal is bearish. In the crypto futures market, the perpetual funding rate prints 0.0042%, open interest stands at $2.44 billion, and the long/short account ratio is 1.80, with 64.2% of accounts long, while the Fear & Greed Index reads 65, in greed territory. A sustained move above $124.9358 would extend the uptrend; losing $119.5150 invalidates that path and exposes the moderate 58/100 shelf at $109.1400. Spot trades at $121.6900, up 2.01% over 24 hours on $1.34 billion of volume, with the full level map in our Solana technical analysis.