Bitwise Solana Staking ETF Hits Record Volume as SOL Trades Near $109
Solana (SOL)
Editor:
Eugene Serbin
Lookonchain.com reports that Bitwise’s Solana Staking ETF (BSOL) recorded a trading volume exceeding $126 million yesterday, marking a new all-time high. Over the past seven trading days, the total trading volume for BSOL has reached $500 million. According to HTX market data, SOL’s price crossed $110 last night and is currently trading at $108.8.
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How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 28 August 2026. Not the outlet's figures.
Whalio spot data shows SOL trading at $109.14 with a 1-hour buy ratio of 43.8%, which is lower than the 51.2% seen over the past 4 hours and the 53.7% over the last 24 hours. This indicates that short-term buying pressure is fading compared to the broader daily trend. The 1-hour volume delta is negative at -$2,223,854, contrasting with a positive 4-hour delta of +$963,116 and a strong 24-hour delta of +$40,126,001. The cumulative volume delta (CVD) for the 24-hour close is +$13,039,971, suggesting net buying has dominated the day. Whalio recorded 12 hours of net buying out of 24, with a total spot volume of $544,689,099 and 2,268,943 trades.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Twenty-four hours later
What SOL did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 52.5%, with the latest day showing a slight increase of 1.2 percentage points. Volume was 1.24 times the average, and there were 7 days of net buying out of 7, indicating consistent bullish activity. The price increased by 24.5% over the 8-day period, with a total volume delta of +$193,216,755. This represents an unusual day for the coin, as volume was significantly above average and buying was consistent across the entire week. The current 24-hour buy ratio of 53.7% is slightly above the weekly average of 52.5%, maintaining the trend of net buying.