US spot Solana exchange-traded funds took in about $188 million last week, their biggest weekly haul since launching in October 2025, and all seven funds in the group finished on the positive side, according to weekly flow data shared by Solana’s official account and covered by CoinDesk.
The record was front-loaded into a single session. The group added roughly $87 million on Friday, September 25, its best day ever, nearly doubling the previous daily record of $33.5 million set in August. Bitwise’s BSOL received about $56 million of that Friday total and Grayscale’s GSOL about $19 million, with the balance spread across the other five funds.
Across the full week, BSOL led with roughly $128.5 million, close to 68 percent of the group’s intake. Grayscale followed with $28.1 million, Fidelity’s FSOL added $18 million, and the four remaining funds, run by Morgan Stanley, VanEck, Franklin Templeton and 21Shares, shared about $14 million between them.
The concentration is the more telling number. BSOL has collected roughly $1.22 billion of the $1.6 billion in cumulative net inflows the group has drawn since the funds began trading on October 28, 2025, a share near 76 percent. No other issuer holds anything close to that position in comparable crypto ETF groups, and it continues to make Bitwise the price-setter for how institutional Solana exposure gets packaged in the US market.
A fragile streak behind the record
The record week did not carry over cleanly into October. Weekly figures from SoSoValue, cited by 24/7 Wall St., show the group took in just $2.4 million for the week ending October 2, a drop of about 99 percent from the record week before it. Two sessions in that stretch actually finished in outflows, with $11.1 million leaving on September 30 and $5.9 million on October 1. A $1.3 million inflow on the final day was all that kept the week positive.
Net assets at the end of that week stood at about $1.9 billion, down from a record $1.96 billion the week before. Since the funds still took in money, most of the decline came from Solana’s price, not redemptions. Cumulative net inflows now stand at about $1.61 billion, a figure that only moves when cash actually crosses the line, unlike net asset value.
Longer-term demand still looks firm. The funds have pulled in roughly $842 million in 2026 so far, including $480 million in the third quarter and $272 million in September alone. The streak of weekly inflows has held without interruption since late June, but the margin has grown thin, and the week running October 5 through 9 will show whether buyers return in size or the streak breaks.
Why the funds keep drawing money
The staking structure is doing much of the work. Spot Solana funds hold the token directly and capture staking yield on their holdings, then pass part of that return to shareholders. Bitcoin spot ETFs offer no comparable yield, and issuers have leaned on that difference as a selling point since launch, along with lower asset volatility relative to smaller altcoins.
The network itself gives allocation desks something to point at. Solana developers have been testing Alpenglow, an upgrade intended to cut payment finality from about 12.8 seconds to roughly 150 milliseconds, per CoinDesk coverage of the record week. The payments angle has attracted attention across the ecosystem in recent weeks, from a Samsung Wallet integration moving USDC on Solana for US users to batch payment standards letting AI agents settle small transactions in one on-chain call.
Sheer size also matters. Solana counts 587.9 million tokens in circulation against a market cap near $70 billion at recent prices, so the group’s $1.9 billion in ETF net assets still represents a small slice of the float, leaving room for inflows to move the price if buying accelerates. Bitcoin and ether ETFs, by contrast, hold shares of scarcity that dwarf any plausible monthly flow.
Keep an eye on two things as the category matures. First, the concentration: Bitwise’s near-76 percent cumulative share means category-wide totals mostly track one fund’s order flow, which makes the group’s headline numbers look better or worse than the competition underneath. Second, fees and staking terms: if Grayscale, Fidelity or the others cut costs or adjust their yield arrangements, the concentration could erode quickly, since the products hold near-identical assets and differ mainly on cost and payout structure.
The flows landed against a soft tape for digital assets. Bitcoin slipped below $83,000 this week as US spot bitcoin ETFs posted their biggest daily outflow since June at $487 million, and ether ETFs are in their sixth straight day of withdrawals with about $160 million leaving on October 7. Rising Treasury yields and oil above $100 have pushed traders to de-risk across the board, and prediction markets now price another Federal Reserve hike as more likely than not.
Against that backdrop, the September record in Solana products stands out, though the October fade suggests it reflected positioning rather than a durable change in demand. Nor did the issuers imply the streak was guaranteed: the simplest read of the last two weeks is that Solana ETF demand runs hot and cold, a record burst of buying followed by near-neutral flows, with cumulative totals still climbing because redemptions stay small.
One structural note worth holding onto. The funds began trading on October 28, 2025, extending regulated, exchange-listed crypto exposure beyond bitcoin and ether to a third major asset. Some of the early demand came from advisors and funds filling allocations they could not access a year earlier, which is a one-time effect. Whether the category keeps compounding depends on fresh money, and the last two weeks show exactly how much that swings week to week.