- Two new funds affiliated with Solana began trading this week.
- Staking offers a constant return incentive that is particularly attractive to large investors.
The new additions come at a time when many companies are preparing products related to digital tokens. Grayscale Research head Zach Pandl suggested that these funds could follow the path of Bitcoin and Ethereum products, which attracted large sums of money from account holders who avoid direct token purchases. Pandl said:
“It is sensible [Solana] to compare with the other ETP products we have on the market. Over a period of, say, one to two years, I would expect at least 5% of the underlying SOL tokens to be held in these ETP structures.”
If this stake materializes, the value would be more than $5 billion based on Thursday’s price levels. This amount would be held in funds managed by large asset managers rather than in personal crypto wallets owned by individuals.
Bitwise listed its Solana fund BSOL on Tuesday. It recorded $129 million in inflows by the end of the second day, Bloomberg ETF analyst Eric Balchunas reported.
Grayscale launched GSOL a day later and recorded $4 million during the first trading session. Balchunas noted: “Healthy, but [offensichtlich]less than BSOL,” adding, “Being just a day behind is really huge. That makes it so much more difficult.”
Grayscale $4m looks like on Day One. Healthy but obv short of BSOL. Being just one day behind is actually really huge. Makes it so much harder.
— Eric Balchunas (@EricBalchunas) October 29, 2025
Solana staking offers 5.7% annual return potential
Solana-based funds also allow staking. This feature locks tokens to secure the network and generates returns from this role. As of Thursday, the annual return was 5.7%, according to data from Solana Compass. GSOL will pass on 77% of the return on investment to shareholders, with the share adjusting over time. It is a turning point in the demand for crypto assets, Pandl said regarding staking:
“Staking rewards are a truly unique source of income for investors, a way to diversify their sources of income in a portfolio.”
Pandl added that blockchain platforms like Solana and Ethereum are attracting interest from institutions looking to deploy stablecoins and tokenized assets.
“When it comes to smart contract platforms like Ethereum and Solana, it’s really about the technological adoption of stablecoins and tokenized assets…that’s primarily how institutional investors look at the asset class. They’re so different in their design decisions that I think they’re taking different paths, and investors can benefit from some diversification even within that category.”
Solana is approaching $100 billion
US crypto exchange-traded funds are drawing attention because they allow trading through regular brokerage and retirement accounts. By the end of 2024, ETFs will hold more than $10 trillion across the U.S. market and account for about 26% of assets under management by securities firms, according to the Investment Company Institute. Some asset managers expressed caution. Charles Schwab noticed:
“Although the SEC allows trading in some crypto ETPs, cryptocurrencies themselves remain lightly regulated compared to the U.S. stock market.”
Schwab also pointed out an increased risk for investors investing in crypto products.
Currently, Solana is under pressure in both trading and derivatives activities. The token slipped with a daily decline of nearly 5% to around $185.81, while trading volume fell more than 16% to $7.77 billion.
Futures trading volume fell by 21% and open interest fell by 2.39%. A slip below $180 could temporarily push the valuation below $100 billion.
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