{"id":11672,"date":"2026-08-09T18:05:07","date_gmt":"2026-08-09T18:05:07","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=11672"},"modified":"2026-08-09T18:05:07","modified_gmt":"2026-08-09T18:05:07","slug":"bitwise-solana-etf-lost-49m-despite-267m-net-capital","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=11672","title":{"rendered":"Bitwise Solana ETF lost $49m despite $267m net capital"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Bitwise Solana ETF, formally named the Bitwise Solana Staking ETF, recorded a net $267.1 million increase from share transactions in the first half of 2026. Yet it finished June with $592.3 million of net assets, about $49.0 million less than at the end of December.<\/p>\n<p>Authorized participants handle those creations and redemptions. Bitwise\u2019s filing does not identify the beneficial owners, so it does not show whether institutions or another holder class drove the increase.<\/p>\n<p>The explanation sits in the fund\u2019s Aug. 7 quarterly filing. BSOL reported a $316.0 million decline from operations during the six months. That exceeded the $267.1 million net capital increase.<\/p>\n<p>Most of the operational damage came from mark-to-market losses. The fund recorded $262.9 million of unrealized depreciation on its Solana holdings and $70.9 million of realized losses. Net investment income came to $17.7 million, including $19.2 million in staking rewards before net expenses.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-553226\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-568f9b58-8e69-4ec3-ba67-6570236bd098.png\" alt=\"Bitwise Solana ETF accounting bridge showing BSOL starting with $641.3 million, adding $267.1 million of net share capital, and ending with $592.3 million after investment income and realized and unrealized losses.\" width=\"720\" height=\"900\"\/><img decoding=\"async\" class=\"lazyload aligncenter wp-image-553226\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-568f9b58-8e69-4ec3-ba67-6570236bd098.png\" alt=\"Bitwise Solana ETF accounting bridge showing BSOL starting with $641.3 million, adding $267.1 million of net share capital, and ending with $592.3 million after investment income and realized and unrealized losses.\" width=\"720\" height=\"900\"\/><\/p>\n<div class=\"cs-article-embed\">\n<div class=\"cs-article-embed__media\"> <img loading=\"lazy\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/06\/solana-falling-1024x576.jpg\" alt=\"Why is Solana falling despite ETF inflows and booming activity?\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/06\/solana-falling-1024x576.jpg\" alt=\"Why is Solana falling despite ETF inflows and booming activity?\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<div class=\"cs-article-embed__body\"> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Why is Solana falling despite ETF inflows and booming activity?<\/h3>\n<p>Solana ETF inflows and network activity are rising, but inflation, weak fee burn, and macro pressure still weigh on SOL.<\/p>\n<p> <span class=\"cs-article-embed__meta-item\">Jun 11, 2026<\/span> <span class=\"cs-article-embed__meta-divider\">\u00b7<\/span> <span class=\"cs-article-embed__meta-item\">Gino Matos<\/span><\/p>\n<\/div><\/div>\n<h2>Why the Bitwise Solana ETF lost ground<\/h2>\n<p>BSOL would have needed more than the period\u2019s $316.0 million operational loss to finish with more assets than it started. The $267.1 million increase fell about $49.0 million short.<\/p>\n<p>BSOL\u2019s share count climbed from 39.18 million to 59.20 million. The fund issued 28.03 million shares and redeemed 8.01 million. The filing disclosed no split or other share adjustment.<\/p>\n<p>Net asset value per share fell from $16.37 to $10.01. The drop shows that a rising share count did not shield each share from losses on the Bitwise Solana ETF\u2019s SOL portfolio.<\/p>\n<div id=\"cs-inline-newsletter-6a78c062c241c\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\">CryptoSlate Daily Brief<\/span><\/p>\n<h3 class=\"cs-inline-newsletter__title\">Daily signals, zero noise.<\/h3>\n<p class=\"cs-inline-newsletter__copy\">Market-moving headlines and context delivered every morning in one tight read.<\/p>\n<p> <span><i class=\"fa-regular fa-bolt\" aria-hidden=\"true\"\/> 5-minute digest<\/span> <span><i class=\"fa-regular fa-star\" aria-hidden=\"true\"\/> 100k+ readers<\/span><\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p class=\"cs-inline-newsletter__privacy\">Free. No spam. Unsubscribe any time.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<p> <i class=\"fa-regular fa-circle-check\" aria-hidden=\"true\"\/> <span>You\u2019re subscribed. Welcome aboard.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>The filing gives monthly redemption figures but only quarterly and half-year creation totals. The ending share count therefore establishes substantial net creation activity, but not that demand arrived at a steady rate throughout the period.<\/p>\n<div class=\"cs-article-embed\">\n<div class=\"cs-article-embed__media\"> <img loading=\"lazy\" width=\"1024\" height=\"538\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/solana-etf-1024x538.jpg\" alt=\"Solana continues to dump despite ETF inflows. Where\u2019s the money going?\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" width=\"1024\" height=\"538\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/solana-etf-1024x538.jpg\" alt=\"Solana continues to dump despite ETF inflows. Where\u2019s the money going?\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<div class=\"cs-article-embed__body\"> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Solana continues to dump despite ETF inflows. Where\u2019s the money going?<\/h3>\n<p>Where SOL ETF shares are landing, how spreads moved, and what that implies for price beta.<\/p>\n<p> <span class=\"cs-article-embed__meta-item\">Nov 12, 2025<\/span> <span class=\"cs-article-embed__meta-divider\">\u00b7<\/span> <span class=\"cs-article-embed__meta-item\">Gino Matos<\/span><\/p>\n<\/div><\/div>\n<h2>A contrasting fund outcome<\/h2>\n<p>Invesco Galaxy Solana ETF shows the same mechanism with the opposite result for total assets. Its quarterly filing shows shares rising from 180,000 to 675,000 after 535,000 purchases and 40,000 redemptions.<\/p>\n<p>NAV per share still fell 39.2%, from $12.45 to $7.57.<\/p>\n<div class=\"cs-article-embed\">\n<div class=\"cs-article-embed__media\"> <img loading=\"lazy\" width=\"1024\" height=\"538\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/altcoin-etf-1024x538.jpg\" alt=\"Solana and XRP ETFs just had record-breaking launches \u2014 so why are prices crashing anyway?\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" width=\"1024\" height=\"538\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/altcoin-etf-1024x538.jpg\" alt=\"Solana and XRP ETFs just had record-breaking launches \u2014 so why are prices crashing anyway?\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<div class=\"cs-article-embed__body\"> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Solana and XRP ETFs just had record-breaking launches \u2014 so why are prices crashing anyway?<\/h3>\n<p>XRP\u2019s $58M debut and SOL\u2019s streak land on a red tape, but why big launches aren\u2019t saving spot markets?<\/p>\n<p> <span class=\"cs-article-embed__meta-item\">Nov 18, 2025<\/span> <span class=\"cs-article-embed__meta-divider\">\u00b7<\/span> <span class=\"cs-article-embed__meta-item\">Gino Matos<\/span><\/p>\n<\/div><\/div>\n<p>QSOL grew total net assets from $2.2 million to $5.1 million because its $4.4 million net capital increase exceeded a $1.5 million operational loss and $45,831 of distributions.<\/p>\n<p>The comparison puts the Bitwise Solana ETF\u2019s result in context. Net share capital can make a fund larger when it exceeds portfolio losses and distributions, but it cannot by itself prevent NAV per share from falling during a SOL drawdown.<\/p>\n<\/div>\n<p>ETF,Featured,Invesco,SOL,SolanaETF,Invesco,SOL,Solana#Bitwise #Solana #ETF #lost #49m #267m #net #capital1786298707<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitwise Solana ETF, formally named the Bitwise Solana Staking ETF, recorded a net $267.1 million increase from share transactions in the first half of 2026. Yet it finished June with $592.3 million of net assets, about $49.0 million less than at the end of December. Authorized participants handle those creations and redemptions. Bitwise\u2019s filing<\/p>\n","protected":false},"author":1,"featured_media":11673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[6132,6131,188,1648,231,6130,455,530,5043,152],"class_list":["post-11672","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-267m","tag-49m","tag-bitwise","tag-capital","tag-etf","tag-invesco","tag-lost","tag-net","tag-sol","tag-solana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitwise Solana ETF lost $49m despite $267m net capital - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"Bitwise Solana ETF added $267.1 million in net capital but ended the half $49.0 million smaller after $316.0 million in losses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=11672\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitwise Solana ETF lost $49m despite $267m net capital\" \/>\n<meta property=\"og:description\" content=\"Bitwise Solana ETF added $267.1 million in net capital but ended the half $49.0 million smaller after $316.0 million in losses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=11672\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-09T18:05:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/bitwise-solana-hourglass.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11672\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=11672\",\"name\":\"Bitwise Solana ETF lost $49m despite $267m net capital - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11672#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11672#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/bitwise-solana-hourglass.jpg\",\"datePublished\":\"2026-08-09T18:05:07+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"Bitwise Solana ETF added $267.1 million in net capital but ended the half $49.0 million smaller after $316.0 million in losses.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11672#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=11672\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11672#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/bitwise-solana-hourglass.jpg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/bitwise-solana-hourglass.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11672#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitwise Solana ETF lost $49m despite $267m net capital\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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