- Six Solana ETF issuers now compete in the U.S., with Bitwise’s BSOL dominating over 80% of the market and more than $478M in assets.
- Despite market pullbacks, Solana ETFs have seen strong inflows—over $420M cumulatively—showing institutions are buying dips, not fleeing.
- 21Shares’ new TSOL fund enters a rapidly growing, highly competitive ecosystem that positions Solana as the top altcoin ETF market after BTC and ETH.
The Solana ETF scene in the U.S. just got a little louder. With the launch of TSOL from 21Shares, the number of issuers tracking the Solana ecosystem has climbed to six — BSOL (Bitwise), GSOL (Grayscale), VSOL (VanEck), FSOL (Fidelity), SOLC (Canary), and now TSOL. The category has already gathered more than $593 million in combined assets, showing just how quickly demand for institutional Solana exposure is picking up.
TSOL, listed on the Cboe BZX Exchange, charges a low 0.21% fee and even includes staking, meaning the fund captures native staking yield from SOL — something investors have wanted from day one. The timing isn’t subtle either; institutional appetite for Solana is rising even as the market has been wobbling around with bouts of volatility.
Bitwise Still Dominates, but Competition Is Spreading
Even with TSOL’s debut, Bitwise remains the giant in the room. BSOL controls over 80% of the entire Solana ETF market, holding $478.40 million in assets. Grayscale’s GSOL trails far behind at $99.97 million, securing a distant second place.
The rest of the field is considerably smaller:
Before TSOL arrived, five active ETFs together held $593.73M, roughly 0.76% of Solana’s total market cap. With competition heating up, inflows spreading, and yields now part of the equation, the Solana ETF market is transitioning from niche to early mainstream — fast.
Inflows Keep Rising Even as SOL Price Softens
Despite market turbulence, Solana ETFs have continued to attract serious capital. SoSoValue reports $30.09 million in net inflows on Nov. 18 alone, pushing cumulative net inflows past $420 million.
Some of the standout spikes include:
- $70M on Oct. 28
- $70M again on Nov. 3
- $30M on Nov. 18
What’s striking is that these inflows came while SOL prices were dipping — a classic sign of institutions buying the pullback rather than chasing rallies. The steady increase in net assets signals growing confidence in Solana’s long-term strength and its emerging status as a high-throughput layer-1 built for serious usage.
Solana Becomes the Most Competitive Altcoin ETF Market in the U.S.
With six issuers now live, Solana has become the most competitive altcoin ETF category in the country, sitting right behind Bitcoin and Ethereum. Asset managers clearly view Solana as the next major on-chain ecosystem with real institutional legs.
TSOL enters just as inflows are strengthening, staking infrastructure is expanding, and the narrative around fast, scalable blockchains is gaining momentum again. The fund also positions 21Shares as a direct challenger to Bitwise’s dominance and Grayscale’s long-standing brand power.
As institutional flows grow and Solana’s network activity stays strong, the Solana ETF landscape may attract even more attention heading into 2026 — and the race for market share is only just starting.
