Leading asset management firm Bitwise has significantly expanded its Solana exposure, purchasing approximately $107.4 million worth of SOL over the last 20 trading sessions, according to data from Arkham Intelligence.
The buying came as Bitwise's Solana ETF recorded mostly steady inflows during the period, despite broader market volatility and slow momentum in the Solana ETF market. Of the 20 trading sessions, only two saw outflows, with the fund attracting fresh capital on most days.
Following the purchases, Bitwise now holds more than 9,030,000 SOL. At Solana's current trading price of around $101, those holdings are worth approximately $918 million, putting the asset manager close to a major milestone of $1 billion in Solana holdings.
The development highlights rising institutional interest in Solana, with investors appearing to use recent price weakness as an entry point into the asset through Bitwise's investment product.
