Solana news

Solana spot ETFs recorded $10.26 million in net inflows for the week ending August 14, roughly 70 times the prior week's total and the strongest showing since May 22. However, the rebound was concentrated in just two funds and two sessions: Bitwise's SOL ETF attracted $8.8 million on August 10, and Morgan Stanley's trust added $1.43 million the next day. Other issuers, including VanEck and Grayscale, saw zero flows. Despite seven straight weeks of net inflows totaling $28.05 million, SOL's price slipped 1.18% to $75.51, and weekly trading volume across the funds fell. In contrast, Bitcoin ETFs saw $389.7 million in outflows, while Ethereum products were nearly flat. Analysts suggest the sustainability of Solana inflows may depend on the upcoming Agave v4.2 upgrade, scheduled for mainnet activation the week of August 17.

Solana recorded the largest 30-day increase in tokenized US Treasury activity among blockchain networks, adding $378 million in net inflows. The broader tokenized Treasury market reached $16.23 billion in total distributed value as of August 15, a 1.81% rise over the period, with Solana, Ethereum, and BNB Chain leading growth. BlackRock's BUIDL, Ondo Finance's USDY, and Galaxy Digital's SWEEP now operate on Solana. Ethereum remains the dominant platform with about 43% market share, followed by BNB Chain at 31.5%. Top products include USYC with roughly $3.0 billion, BUIDL at $2.7 billion, and USDY at $2.15 billion. The market has expanded from under $1 billion in early 2024 to over $16 billion, a 16-fold increase in under 30 months, with the broader real-world asset ecosystem now exceeding $30-38 billion.

Solana's leadership is pitching the network as 'the Netflix or the Amazon of finance', aiming to become a one-stop destination for trading stocks, real-world assets, and crypto. This vision is backed by the network's real-world asset sector, which recently hit a $3.9 billion valuation across 2,676 assets and nearly 340,000 holders. Solana's broader network secures roughly $50 billion in assets with about $3.4 billion in daily trading volume. New features are fueling the push, including stock tokenization via the Backpack wallet and native subscription and recurring payment functionality, tapping into a $275 billion global market. However, Solana faces competition from Ethereum, which hosts institutional funds like BlackRock's BUIDL. Regulatory uncertainty around tokenized securities in the US poses a risk, with potential SEC scrutiny. SOL is trading near $76.

Bank Leumi, Israel's largest bank, will allow customers to trade bitcoin, ether, and solana via its digital banking arm, starting in early 2027, in partnership with Galaxy Digital, which will provide institutional trading and custody infrastructure. This marks the bank's second attempt to offer crypto trading, following a 2022 partnership with Paxos that was never launched. Bank Leumi's head of strategy highlighted the initiative as part of the bank's innovation strategy, noting digital assets are becoming integral to global finance. The move comes as Israel received an estimated $22 billion in onchain crypto value over the year ending June 2025, with regional activity in the Middle East and North Africa rising 33% to over $500 billion.

Bitwise Asset Management has partnered with tokenization firm Superstate to explore enabling onchain holdings of shares in its Solana Staking ETF (BSOL). The proposed infrastructure would allow investors to hold the same ETF shares via traditional book entry records through the Depository Trust Company or in tokenized form onchain, without creating a separate investment product or altering underlying share rights. BSOL, trading on NYSE Arca, is expected to be the first fund considered for this feature, which remains subject to legal and regulatory approval. Tokenized shares would carry the same rights as traditional ones but would not be freely transferable outside the designated recordkeeping system. Bitwise manages over $9 billion in assets, and BSOL had roughly $592 million in assets under management as of late July. The firm said additional ETFs could adopt the structure if the initiative proceeds.

Israel's largest bank, Bank Leumi, has partnered with Galaxy Digital to offer Bitcoin, Ether, and Solana trading to its customers, marking the first such service by an Israeli bank. The service, launching in early 2027, will be available through the Leumi Trade app for clients of both Leumi and its mobile banking arm, Pepper, allowing them to buy, hold, and sell the three cryptocurrencies. Leumi will utilize GalaxyOne Institutional for trading and Galaxy's custody platform for infrastructure. This announcement follows Galaxy Digital's recent $85 million net loss in the second quarter, which it attributed to falling digital asset prices, despite its digital assets business generating a 34% increase in adjusted gross profit. Galaxy, led by Mike Novogratz, trades on the Nasdaq under GLXY, with shares up about 2% on the day but down roughly 25% over the past year.

Bitwise Asset Management announced a partnership with fintech firm Superstate to develop tokenization capabilities for certain Bitwise funds, with the Bitwise Solana Staking ETF expected to be the first tokenized fund, though no launch is assured. Under the planned framework, tokenization would only change how share ownership is recorded, with investors retaining the same rights and purchasing channels. Tokenized shares would be recorded on a blockchain and maintained via Superstate's transfer agency infrastructure, while shareholders could also choose traditional book-entry form through The Depository Trust Company. Tokenized shares would carry the same rights but not be freely transferable outside the blockchain system. Bitwise, which manages over $9 billion in assets, recently cut 14% of its staff to support ongoing growth.

Multicoin Capital has exited its stake in Forward Industries, the largest Solana treasury company, via SEC filings, marking the end of its involvement eight months after helping launch the $1.65 billion strategy with Galaxy Digital and Jump Crypto. Multicoin sold shares back to Forward in March and transferred remaining positions to Lemmings Holdings, an entity controlled by co-founder Kyle Samani, who resigned as Multicoin manager in January. Despite Multicoin's exit, Forward continues its Solana strategy, adding 508,618 SOL equivalents in its fiscal third quarter and another 254,325 SOL equivalents through early August, bringing its treasury to roughly 7.81 million SOL equivalents. The company reported a $69 million quarterly net loss and is now seeking diversified yield sources and potential acquisitions to expand beyond SOL accumulation.

DeFi Development Corp., a Solana treasury company, reported a $27 million second-quarter net loss, reversing a year-ago gain, and announced it will close its Treasury Accelerator to new deals. Operating expenses fell 22.6% year-over-year to $4.635 million, with further cuts expected in Q3. The company repurchased $3.5 million of convertible note principal for $2.3 million, a 35% discount, but issued 478,000 shares via its ATM facility, reducing SOL per share by about 1.4%. As of Aug. 12, fully converted SOL per share rose 24% year-over-year to 0.066, while total debt stood at 216% of market capitalization. No new Treasury Accelerator transactions will be originated, though existing investments in ZeroStack and Allied Architects remain. The company's per-share economics face pressure from SOL price volatility and future share issuance.

Dominion Market has launched SILV, a Solana-based token backed by physical silver, with each token representing one troy ounce stored in an LBMA-standard vault in Texas. Trading is live on Solana DEXs including Sunrise, Orca, and Raydium, with SILV recently priced around $64.63. Tokens are minted at spot price plus a 1.5% fee, with segregated and allocated bars audited by Bureau Veritas. Founded by Mark Tormey in May 2025, the project's whitelist pilot was 4x oversubscribed, with live trading starting in August 2026. Physical redemption is expected within three to six months. The move targets the relatively small tokenized silver market, compared to gold's $6 billion sector, aiming to bridge infrastructure gaps. The 1.5% upfront fee is noted against traditional ETF expense ratios.