U.S. Solana ETF flows turned negative after a narrowly positive week. Withdrawals were concentrated in BSOL, while MSOL attracted fresh capital.
U.S. Solana ETFs recorded $25 million in net outflows in the week of October 5–9, 2026, reversing the previous week’s modest $800,000 net inflow. The weekly totals are calculated from Farside Investors’ daily figures. The Bitwise Solana Staking ETF (BSOL) accounted for $21 million of withdrawals, the largest outflow among the funds tracked.
Five days of outflows followed a mixed week
Flows had moved in both directions during September 28–October 2. Monday and Tuesday brought a combined $13.1 million in inflows, followed by $13.6 million in outflows on Wednesday and Thursday. Friday’s $1.3 million inflow kept that week slightly positive. During October 5–9, aggregate net flows were negative on every trading day.
Monday, October 5, produced the largest daily outflow at $9.2 million: $7.1 million from BSOL and $2.1 million from FSOL. Tuesday’s $3.7 million withdrawal came entirely from GSOL. BSOL then recorded further outflows on Wednesday, Thursday and Friday.
| Trading day | Net flow ($ million) |
|---|---|
| October 5 | −9.2 |
| October 6 | −3.7 |
| October 7 | −4.8 |
| October 8 | −3.5 |
| October 9 | −3.8 |
| Weekly total | −25.0 |
Source: Farside Investors. Weekly figures are the sum of daily values published to one decimal place. Farside notes that its automatically generated table may contain errors or inaccuracies.
MSOL inflows partly offset withdrawals from three funds
The seven funds did not all lose capital. Alongside BSOL’s $21 million weekly outflow, GSOL recorded $3.7 million in withdrawals and FSOL $2.1 million. Their combined net outflows reached $26.8 million. A $1.8 million inflow into MSOL on October 8 reduced the overall weekly withdrawal to $25 million. VSOL, TSOL and SOEZ showed zero net flows throughout the week.
Bitwise’s product page reports approximately $1.202 billion in net assets and 11.02 million SOL held as of October 8. The fund’s assets under management measure its portfolio value at a point in time; weekly flows measure the balance of capital entering and leaving over five days.
Selling ETF shares does not always remove SOL from the fund
According to Bitwise, investors trading existing BSOL shares with one another on an exchange do not, by that activity alone, change the fund’s SOL holdings. Redemptions from the fund are handled by authorized participants. Exchange trading volume, unlike net fund flows, also includes existing shares changing hands between investors.
BSOL targets staking all of its SOL holdings; the actual allocation disclosed for October 9 was 99%. Bitwise says unstaking SOL typically takes about 48 hours and that unusual delays can extend the redemption settlement period. The explanation describes how the fund operates. It does not establish that staking problems caused the October 5–9 withdrawals.
Net outflows are not investors’ total losses. The $25 million figure measures how much capital leaving the tracked ETFs exceeded capital entering them. Farside’s table does not identify the investors, explain their reasons for withdrawing, or establish what caused changes in SOL’s price.
