Bitwise's Solana ETF generated $56 million in trading volume on its October 28, 2025 debut, outperforming over 850 ETFs launched in 2025, according to Bloomberg ETF analyst Eric Balchunas. Despite the strong institutional reception, SOL traded at $195.41, remaining within a consolidation range between $192 and $197. The token failed to breach the $200 resistance level as technical indicators showed neutral momentum and flattening exponential moving averages.