Solana ETF Trust Assets Outpace XRP as Staking Yield Drives Demand
Solana (SOL)
Editor:
Eugene Serbin
kanalcoin.com reports that Bitwise's Solana Staking ETF (BSOL) held 11,314,052.33 SOL valued at $1,347,889,442.42 as of September 28, 2026, significantly exceeding its XRP counterpart. The Bitwise XRP ETF held 413,140,980.47 XRP worth $618,955,422.72 on the same date, making BSOL’s trust assets roughly 2.18 times larger than the XRP product. While headlines cite a 300% gap, this likely refers to unverified daily or 30-day net inflow comparisons across all U.S. products rather than single-issuer trust assets.
BSOL offers a 5.50% net staking reward rate with a 99% staking allocation, a structural advantage over XRP which lacks native staking. This yield-bearing wrapper appeals to investors despite regulatory scrutiny in regions like Southeast Asia. SOL traded at $118.07 at press time, down 0.66% over 24 hours, with a market cap near $69.4 billion.
The asset recently saw $18 million in short positions liquidated, indicating active speculative interest. The broader Crypto Fear & Greed Index sat at 71, classified as Greed, supporting inflows into higher-beta assets. Both Bitwise products are not registered under the Investment Company Act of 1940, lacking standard mutual fund protections. Unconfirmed reports suggest nine Solana ETFs hold $1.93 billion versus five XRP ETFs at $1.68 billion, though the data provider remains unnamed.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 1 October 2026. Not the outlet's figures.
Whalio’s Binance spot data shows SOL trading at $118.12 with a 24-hour buy ratio of 49.8%, indicating near-even distribution between buyers and sellers. Short-term pressure is slightly more bearish, with the 1-hour buy ratio at 48.0% and the 4-hour ratio at 46.5%, suggesting fading buying momentum in the immediate term. Volume deltas reflect this sentiment, showing net selling of $282,757 over the last hour and $2,495,372 over four hours. Over the full 24-hour period, the volume delta stands at -$1,130,355, with a cumulative CVD of -$4,034,098, confirming that sellers have dominated the day's volume. Despite this, spot volume remains robust at $348,023,504 with over one million trades executed. The data indicates a day of net selling pressure rather than accumulation, contrasting with the broader market greed index.
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.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Comparing today’s activity to the preceding week reveals a shift in momentum. The 24-hour buy ratio of 49.8% is lower than the 7-day average of 50.9%, indicating a slight cooling in buyer dominance compared to recent trends. However, trading volume remains elevated at 1.04 times the weekly average, showing sustained interest. Over the past eight days, the coin has seen a price change of +2.7% with a total volume delta of +$45,008,083, highlighting a generally positive weekly trend. Today’s net selling represents a deviation from the week’s overall accumulation pattern, marking it as an unusual day of distribution rather than the norm.