September 21, 2026 – Spot Solana funds pulled in $60.7 million in the week to 18 September, ten times the bitcoin ETF total. Nearly all of it went to one staking fund.
In Summary
U.S. spot Solana ETFs took in $60.7 million in the week to 18 September, their best week of the month.
Spot bitcoin ETFs added only $6.1 million, while ether funds lost about $140.6 million.
Bitwise’s BSOL holds 10.09 million SOL and has drawn about 77% of all Solana ETF inflows.
The $1.41 billion Solana ETF total is cumulative since launch, not a 12-week figure.
SOL closed at $111.14 on Sunday, 79% above its June low but 11% down for the year.
Solana ETFs had their best week of September while bitcoin funds went almost silent. U.S. spot Solana funds took in a net $60.7 million in the week to 18 September, daily flow data show. Spot bitcoin ETFs, by contrast, added just $6.1 million over the same five sessions.
The gap is striking because bitcoin funds are far larger. Yet investors chose the smaller asset during a volatile Fed week. Moreover, most of that money went to one product.
Solana ETFs Beat Bitcoin in Fed Week
Thursday did most of the work. On 18 September, Solana funds drew $47.6 million, all of it into the Bitwise Solana Staking ETF, ticker BSOL. No other Solana fund reported inflows that day.
Bitcoin funds, meanwhile, swung hard. They lost $450.4 million on 15 September and $295.9 million on 16 September, the day of the Fed’s rate hike. Then they recovered with $159.5 million and $433.0 million on the last two days. As a result, the week closed almost flat.
Ether funds did worse. U.S. spot ether ETFs shed about $140.6 million across the week, after two strong weeks earlier in the month.
Scale still favours bitcoin by a wide margin. Spot bitcoin ETFs have gathered about $55.2 billion in net inflows since their January 2024 debut. Ether funds have taken about $13.3 billion. Solana’s $1.41 billion is small beside both, which makes last week’s split even more notable.
One Fund Takes Most of the Money
BSOL dominates the category. Since launch, U.S. Solana funds have gathered about $1.41 billion in net inflows. BSOL alone accounts for $1.09 billion of that, or about 77%.
As of 18 September, the fund held 10.09 million SOL, its fund page shows. Net assets stood at about $1.15 billion. By comparison, Fidelity’s FSOL has drawn $212.3 million and Grayscale’s GSOL $136.1 million. One fund, TSOL, has seen net outflows of $97.6 million.
A note on the numbers helps here. Some trackers describe the $1.4 billion as a 12-week haul. However, the Farside total is cumulative since the first funds launched in late 2025. September’s three weeks, for their part, brought in about $76.4 million.
Staking Yield Drives the Demand
Why does BSOL win? The answer is yield. Staking locks tokens to help secure the network, and the network pays out new tokens as rewards. The fund stakes 100% of its SOL and passes the rewards to shareholders. Its page shows a gross staking reward rate of 5.65% and a net rate of 5.31%.
Bitcoin has no native staking, so bitcoin ETFs pay nothing. Ether funds can stake, but investors pulled money from them this week. Therefore, a 5% yield on a liquid, exchange-listed product stands out. Rewards do vary with network conditions, however, so the rate can change over time.
Costs are also low. BSOL charges a 0.20% sponsor fee, according to Bitwise’s launch announcement. The fund listed on NYSE Arca on 23 October 2025 and uses Coinbase Custody as custodian.
By Catenaa’s estimate, a 5.31% net rate on 10.09 million SOL would generate about 536,000 SOL a year. At Sunday’s price, that is roughly $60 million in annual rewards for holders.
SOL Price Still Below Its January Peak
The inflows came as SOL rallied. The token closed at $112.69 on Kraken on 18 September, up 11% on the day. It ended Sunday at $111.14.
Even so, SOL remains well below its highs. It peaked at $146.69 on 14 January and fell to $62.16 on 6 June. The price now sits about 79% above that low but still 11% below its 2025 close.
Bitcoin and ether tell a similar story. Bitcoin closed at $81,164 on Sunday, down about 7% for the year. Ether ended at $2,645, down about 11%.
What to Watch for Solana ETFs
Flows remain small in absolute terms. A $60.7 million week would barely register for bitcoin funds on a busy day. Still, the trend matters for issuers weighing new crypto products.
Rates add a twist. The 10-year Treasury yield closed at 5.01% on 18 September, according to official Treasury data. That leaves BSOL’s 5.31% net staking rate only slightly above a 10-year Treasury. In other words, investors earn little extra yield for taking on SOL’s price swings.
Additionally, the staking edge may not last. Rivals could add staking or cut fees to compete. For now, however, Solana ETFs show that yield can pull money into crypto even when bitcoin demand stalls.
