Major Wall Street institutions, including Goldman Sachs and venture capital firm Electric Capital Partners, were significant buyers of U.S. spot Solana exchange-traded funds (ETFs) in the fourth quarter of 2025, according to data from Bloomberg ETF analyst James Seyffart. The top 30 institutional holders collectively acquired over $540 million worth of these ETFs during the period.
Electric Capital led the institutional buying with $137.8 million in exposure, followed closely by Goldman Sachs with $107.4 million. Other prominent buyers included Elequin Capital, SIG Holding, and Multicoin Capital. Additional notable institutions participating were Morgan Stanley and Citadel Advisors.
The data is derived from 13F filings submitted to the U.S. Securities and Exchange Commission (SEC) in mid-February 2026, which mandate disclosure for institutions managing over $100 million in assets. By institution type, investment advisors held the largest share of Solana ETF ownership at over $270 million, with hedge fund managers accounting for $186.4 million.
These ETF holdings were backed by approximately 4.3 million SOL tokens. However, the market value of these holdings has declined by over 30% since the end of Q4 2025, with SOL's price falling from $124.95 to $86.53 at the time of reporting.
Despite the price drawdown, cumulative flows into spot Solana ETFs have remained robust. Bloomberg ETF analyst Eric Balchunas noted that flows have held strong in recent months, with 50% of Solana ETF assets held by 13F-filing firms, suggesting a committed institutional investor base. Data from Farside Investors indicates U.S. spot Solana ETFs have accumulated $952 million in total inflows since their launch.
The first SEC-approved spot Solana ETF, Bitwise's BSOL, launched on October 28, 2025, and reportedly captured the majority of early demand, with net inflows reaching $444 million at one point. Analysts characterized the launch as a success. "The launch of U.S. spot Solana ETFs has been a clear success, drawing strong investor demand despite broader crypto fund outflows," said Vetle Lunde, Head of Research at K33.
