Bitwise Solana ETF Crosses $1 Billion Mark

• SOL-USD
• SOL

The Bitwise Solana (CRYPTO: $SOL) staking exchange-traded fund ($BSOL) has reached $1 billion U.S. of assets less than 10 months after its launch.

The fund has become the first Solana ETF to reach the $1 billion U.S. level.

The Bitwise fund is, by far, the biggest Solana ETF. The entire category of Solana funds has achieved $1.7 billion U.S. of assets under management (AUM), with more than half going to the BSOL ETF. 

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Privately held crypto asset manager Bitwise confirmed that its Solana ETF had $1.017 billion U.S. of net assets as of Aug. 26. 

The fund contained 9.33 million SOL tokens with a market value of $1.017 billion U.S., or about 0.137 SOL for each outstanding share.

On Aug. 26, BSOL reported a net asset value of $14.95 U.S. per share and a market price of $15.03 U.S., giving the shares a 0.56% premium to their underlying net asset value. 

The $1 billion U.S. figure refers to assets under management, which change with investor subscriptions, redemptions and Solana’s market price.

SOL is trading at $102.65 U.S. on Aug. 28. Bitwise is privately held and its stock does not trade on a public exchange. 

Source: finance.yahoo.com