Trading has begun in the United States for two spot exchange-traded funds (ETFs) based on Solana – products from Bitwise and Grayscale. According to analysts, these funds are capable of accumulating over 5% of the total supply of Solana coins.
This is reported by Business • Media
Market Growth Potential and Features of the New Solana ETFs
Grayscale’s Director of Research, Zach Pandl, noted that he expects at least 5% of the entire supply of Solana to be held in such funds over the next one to two years.
“It would make sense to compare Solana with other ETF products. Over the next one to two years, I expect that at least 5% of the supply of Solana will be held in similar structures,” said Pandl.
Unlike the launch of the Bitcoin ETF in 2023, which occurred with almost no competition, the current cryptocurrency market is represented not only by Bitcoin and Ethereum ETFs but also by dozens of new applications awaiting regulatory approval.
Launch Details and Staking as an Advantage for Investors
In October 2025, trading began in the US for two spot ETFs on Solana: Bitwise launched the BSOL product, while Grayscale introduced GSOL. In the first three days, both funds attracted nearly $150 million.
A feature of the GSOL fund is the ability to support staking. Grayscale will pass on 77% of the rewards earned from staking Solana to investors. According to Zach Pandl, this could become an additional factor driving demand:
“Staking rewards are a unique source of income for investors, a way to diversify their income streams in their portfolio.”
Pandl emphasized that even with competition from Ethereum, the Solana fund could become part of a balanced crypto portfolio, as the networks have different technical characteristics and methods of implementing smart contracts.
Previously, JPMorgan predicted that in the first year of the funds’ operation, capital inflow into Solana ETFs could reach $1.5 billion.