Solana Staking Exchange-Traded Funds has a promising future in the traditional stock exchange after the Bitwise fund’s debut on the New York Stock Exchange exceeded $56 million in trading volume on the first day.
Matt Hougan, Bitwise’s chief investment officer, described the bitwise Solana Staking ETF (BSOL) as “the missing piece of the puzzle” in a conversation with Cointelegraph’s chain reaction, as the product has attracted millions of dollars in investment on the NYSE.
So, @BitwiseInvest The Solana Staking ETF reached $56m in trading volume after its debut in @Nyse 💰
Count @Ericbalchunas reportedly, this is the biggest ETF debut in 2026.@Matt_hougan described $ Bsol as “the missing piece of the puzzle”.
Here’s why @solana Staking ETFs will attract … pic.twitter.com/syfgy6dwm9
– Gareth Jenkinson (@gazza_jenks) October 29, 2025
Hougan said that up to this point, investors have stood to gain more by owning Solana in ways that allow them to directly stake the property and earn a yield rather than investing in an ETF or product that doesn’t allow for staking.
“When you put it in an ETF, you get all the great things about an ETF. Very low cost, institutional custody. You can buy it in your broker account. It’s push-button easy. And you get that staking for you,” Hougan said.
“I think it’s going to be one of the main ways people invest in Solana, around the world. I think it’s going to be a big deal.”
Investors want conservation and staking yields
Hougan drew the distinction between conventional crypto ETFs such as bitcoin and Ethereum products, which primarily give investors exposure to the underlying asset. Staking ETFs have a two-fold benefit for investors, as Hougan explains.
“So as an investor in something like $BSOL, not only do you get a Solana return, but every year you get somewhere around 7% of additional Solana on top of that. For a tradfi investor, it’s a bit like a dividend in an extreme sense.”
Hougan said the product also helps decentralize and secure Solana’s network. The $BSOL ETF launched $222 million in assets, worth more than 1.1 million SOL tokens.
Bloomberg Senior ETF analyst Eric Balchunas reported that Bitwise’s Sol staking ETF had the largest trading volume of any ETF to debut in 2025.
The regulatory change made Solana staking ETFs
Hougan also credited a regulatory U-turn in the US as a catalyst for the final greenlight for the Solana Staking ETF. During Gary Gensler’s term at the helm of the SEC, Bitcoin and Ether ETFs took years to get the regulatory green light.
The bitwise executive said that the Solana staking ETF would not have been “even remotely possible” if there had not been a significant change in attitude towards the cryptocurrency sector from US regulators.
“Even if Solana isn’t unstaked it’s impossible, right? We got a little bit of Ethereum through the Gary Gensler Pinhole,” Hougan said. “And there’s no way you can get anything through that pinhole. And then add staking on top of it, staking is more complicated.”
Related: Bitwise Sol Staking ETF debuts with $223M in assets, shows strong institutional demand
He said a number of complexities have also stumped regulators, including liquidity and tax implications. However, the launch of BSOL and Grayscale’s Solana Trust ETF (GSOL) could open the door for other tradfi investment products linked to proof-of-stake protocols.
“Not only have we done it today, but it also opens the door for various other ETPs to launch that also have staking. So this is like a major proof-of-concept in the history of crypto ETPs in the US.”
Magazine: Solana vs Ethereum ETFS, Facebook’s Influence on Bitwise: Hunter Horsley
