Solana News Today: Solana's ETF Surge and Institutional Deals Validate Crypto's Next Frontier

The Solana ecosystem continues to gain momentum as institutional and retail investors embrace its growing infrastructure. Among the latest developments, project BULK, a perpetual decentralized exchange (DEX) on Solana, has partnered with Sanctum to launch the BulkSOL liquidity staking token, according to a ChainCatcher report. This move comes amid a surge in Solana-based innovations, including the successful debut of the Bitwise Solana Staking ETF (BSOL) and the approval of the Grayscale Solana Trust ETF (GSOL), which have collectively signaled a maturing market for crypto exposure.

The Bitwise Solana Staking ETF, which launched on October 28, 2025, recorded $55.4 million in trading volume and $217.2 million in assets under management (AUM) on its first day, making it the most successful ETF launch of the year, according to a TradingView report. Bloomberg analyst Eric Balchunas noted that BSOL outperformed other altcoin ETFs, including the XRP ETF (XRPR) and Hedera (HBAR) offerings, which saw minimal inflows, as reported by an FXStreet article. The ETF's success has bolstered optimism for other altcoin products, with experts like Nate Geraci of Novadius Wealth predicting strong demand for spot XRP ETFs.

Solana's institutional credibility has also expanded with Western Union's announcement of a Solana-based USDPT stablecoin and Digital Asset Network. The partnership, revealed on October 29, aims to leverage Solana's high-throughput blockchain to facilitate cross-border payments. Meanwhile, Helius Labs introduced a new RPC method to enhance Solana's transaction search capabilities, further solidifying its appeal for enterprise use cases.

The launch of BulkSOL by BULK and Sanctum adds a new dimension to Solana's liquidity ecosystem. While details about the token's mechanics remain sparse, the project's prior $8 million funding round and recent points program suggest a focus on incentivizing participation, as noted in the ChainCatcher report. This aligns with broader trends in the Solana ecosystem, where staking and yield-generating tokens are becoming central to user engagement.

Despite the optimism, market observers note that retail interest in Solana remains cautious. CoinGlass data shows that Solana futures open interest has stagnated below $10 billion, indicating a risk-averse stance among traders. However, the technical outlook for SOL is mixed: while the price has pushed above $200, it faces key resistance levels at $237 and $253, which could determine the next phase of its recovery.

Grayscale's GSOL ETF, which began trading on NYSE Arca on October 30, complements Bitwise's offering by converting its $105 million Solana holdings into a tradable product, according to a MarketScreener report. The fund promises to distribute 77% of staking rewards to investors, a feature that differentiates it from traditional ETFs. Analysts estimate that the combined staking-enabled Solana ETFs could attract $3–6 billion in inflows, further cementing Solana's position in the crypto market, per a Crypto.News report.

The broader implications of these developments are significant. As Solana's ecosystem attracts partnerships with financial giants like Western Union and institutional investors, the network's utility as a high-performance blockchain is being validated. The launch of BulkSOL and other staking tokens could further diversify Solana's offerings, enabling users to earn yields while participating in decentralized finance (DeFi) protocols.