Bitwise Solana ETP Crosses $100M AUM Milestone as DeFi Dev Corp Buys the SOL Dip

Bitwise’s Solana ETP has surged by over $100 million in assets under management. This comes as Nasdaq-listed DeFi Dev Corp increased its SOL holdings by taking advantage of the most recent market decline.

Bitwise Solana ETP Hits $100 Million AUM

The Bitwise Solana Staking ETP (BSOL), tradable across major European exchanges, has crossed $100 million in assets under management. This points to an increasing need for SOL investment products that are regulated and allow for staking.

According to Bitwise, the ETP provides direct exposure to the token’s performance while distributing daily staking rewards to investors. Each share is fully backed by tokens held in professional cold storage. It is also benchmarked to the Compass Solana Total Return Monthly Index, net of all fees.

Experts attribute the product’s success to growing institutional recognition of the token’s speed, developer traction, and rising share of total DeFi activity. 

CoinGape previously reported that the total Solana ETP category saw record inflows of over $706 million. This surge pushed the sector’s total AUM beyond $5.1 billion, surpassing its July record by a wide margin.

Notably, REX Shares’ Staking ETF (SSK) also saw explosive growth. The product reached $382 million AUM after three consecutive weeks of gains. 

DeFi Dev Corp Expands SOL Holdings

In other news, despite the market downturn, DeFi Development Corp. has continued to increase its treasury holdings. In its latest update, the company confirmed the purchase of 86,307 tokens at an average price of $110.91. This raised its aggregate position to 2.19 million tokens valued at approximately $426 million. 

The company said all newly acquired tokens will be staked across multiple validators, including its own SOL nodes, to generate ongoing yield.

The move follows a previous SOL acquisition of 196,141 tokens at roughly $202.76 each. The company now ranks among the largest public holders of the token. They trail Forward Industries (FORD), which maintains approximately 7 million tokens in reserve.

Building on its treasury strategy, the firm launched Japan’s first Solana treasury entity, DFDV JP. The collaboration aims to accelerate enterprise-level adoption and build infrastructure for long-term institutional participation in the token’s ecosystem.

Elsewhere, Solmate revealed that it had acquired $50 million in the token directly from the Solana Foundation at a 15% market discount due to the crypto market crash. The purchase will fund the firm’s SOL-based operations in the UAE.

The momentum around the token ETP’s growth and treasury moves suggests greater institutional adoption of the token.