SOL rose 11% to $112 as BSOL saw $85M in trading volume

BSOL, the Bitwise Solana Staking ETF, saw roughly $85 million in trading volume as SOL rose 11% to $112 on Thursday, its highest level since January 2026. The $85 million figure could not be reproduced against exchange data in this check; CoinGlass had SOL at $111.68 at the time of writing, up 5.8% over 24 hours and 9.5% over seven days.

BSOL (NYSE: BSOL) was the first US ETP with 100% direct SOL exposure when Bitwise launched it. Bitwise Asset Management described itself at launch as a global crypto asset manager with more than $15 billion in client assets. The fund's management fee is 0.20%, set to 0% for three months on the first $1 billion in assets, and BSOL stakes 100% of its holdings through Helius, which managed more than 13 million staked SOL at the time of launch.

SOL derivatives show heavy leverage behind the move

CoinGlass puts SOL 24-hour spot volume at $1.287 billion and futures volume at $11.575 billion, with $32.82 million in liquidations and $6.86 billion in open interest. A futures-to-spot ratio of roughly 9:1 says more about leverage on the move than it does about demand for the token itself.

BSOL’s reported $85 million volume remains unverified

The $85 million BSOL volume figure could not be independently verified against exchange data in this check, and without a full-day print from a primary source the lower number may reflect a mid-session snapshot rather than a settled total.

BSOL expands Solana’s presence in U.S. spot ETFs

CoinGecko's institutional adoption summary lists BSOL and Fidelity's FSOL as the two live US spot Solana ETFs, with combined Solana ETF assets above $1 billion. The same summary names Forward Industries (NASDAQ: FORD) as a Solana treasury company holding more than 6.9 million SOL.

Solana adds institutional and payment-network catalysts

The Solana Foundation has linked Solana with Allfunds through Project Harmonia, which connects more than 3,300 asset managers and oversees roughly €1.9 trillion in assets under administration, per the Foundation's announcement. MoneyGram Ramps has gone live on the network with deposits in more than 25 countries and cash withdrawals in more than 170. The €1.9 trillion figure was not independently confirmed from a primary Solana Foundation source in this check.

On-chain metrics beyond what the market data dashboards report, network fees and active addresses for September 18, were not pulled from a verified source this session. CoinGlass's SOL long/short liquidation split was blank in the fetch attempted here, so the claim that roughly 96% of the $32.82 million in 24-hour liquidations came from shorts could not be checked at the source.

SOL trades at $111.68 on CoinGlass at the time of writing, with a 9.5% seven-day move intact. The chart says what it says. A close back below the prior week's range on rising spot volume would be the print that breaks it.