Overview
- Bitwise launched BSOL, the first U.S. spot Solana ETF, which drew $69.5 million of first‑day inflows and posted the year’s highest day‑one trading for a new ETF at about $56 million, according to Bloomberg’s Eric Balchunas.
- Follow‑through flows were reported at $46.5 million on Oct. 29 and $36.5 million on Oct. 30, signaling continued early demand tracked by Farside Investors.
- Western Union said it plans to issue a Solana‑based stablecoin by early 2026, a corporate signal cited as validation for Solana’s payments infrastructure.
- Hougan places Solana at roughly 14% of a $768 billion Layer‑1 cohort centered on stablecoins and tokenization and says it is easy to imagine that market growing by 10x or more.
- He likens the thesis to his Bitcoin framework—benefiting from market expansion and rising share—while warning that crypto remains volatile and that Solana still competes with Ethereum, Tron and BNB Chain for adoption.