Bitwise's exchange-traded fund has reached an important financial milestone. Assets under management have surpassed one billion dollars. The fund is focused on Solana staking. This result was achieved in just ten months. The product trades on the exchange under the ticker BSOL. Solana has become the third crypto asset to reach this milestone. Previously, Bitcoin-based products crossed the billion-dollar threshold. Ether was the second asset to achieve this on the market. The management company officially confirmed this significant achievement. Bitwise representatives made a statement on social network X.
The majority of capital flowed in during a market downturn. Investors continued to build positions during the bear market. A difficult first half of the year did not deter large-scale investments. Total assets of American Solana-focused funds have grown. The figure currently stands at $1.43 billion. This represents approximately 2.35% of total market capitalization. Bloomberg analyst Eric Balchunas confirmed the sustained inflow. Total investments in the category reached $1.7 billion. There are no signs of sustained capital outflows whatsoever. CEO Hunter Horsley noted the importance of scale.
Large funds increase overall market liquidity. They attract institutional investors' attention to the asset. Solana's price recovery has significantly reinforced this trend. The token surged 46% in August. The price is now 80% above its low. The June low is far behind on the charts. The token has once again climbed above the $100 mark. The network's market capitalization has exceeded $60 billion. Institutional client access is actively expanding beyond funds. Major brokers are adding new digital assets for clients.
Charles Schwab made an important strategic announcement. The broker plans to add direct trading of the Solana token. The Schwab Crypto platform will also support Avalanche and Chainlink. The new features will be available within the next few months. This brokerage firm manages enormous client assets. Total assets under management exceed $12 trillion. These assets are distributed across 39 million accounts. Direct access through brokers simplifies token purchases. Investors do not need to manage crypto wallets on their own. Capital flows look like a sustained long-term investment.