- Bitwise launches Solana Staking ETF to give direct SOL exposure and earn staking rewards.
- The ETF allows investors to access Solana growth without managing private keys or staking directly.
- NYSE approval positions Solana alongside Bitcoin and Ethereum in regulated U.S. markets.
Bitwise Asset Management is re-entering the crypto ETF market with the Bitwise Solana Staking ETF (BSOL). The ETF will trade on the New York Stock Exchange starting Tuesday. BSOL offers direct exposure to spot Solana (SOL), marking the first U.S. ETF with this structure. The launch aims to integrate Solana into mainstream investment portfolios.
BSOL will hold Solana tokens directly and stake them on-chain to earn network rewards. Staking returns are projected at approximately 7% per year. Rewards are automatically reinvested into the fund to enhance overall performance. Helius Technologies will manage the staking process to ensure reliability and regulatory compliance. The ETF carries a management fee of 0.20%. Bitwise will waive fees for the first three months or until the fund reaches $1 billion in assets, whichever occurs first.
Market Impact and Investor Access
Analysts say BSOL’s structure could attract both institutional and retail investors. It removes the complexity of self-custody and direct staking. The ETF allows investors to gain exposure to Solana’s ecosystem without managing private keys. This product also opens opportunities for large institutions to hold or stake cryptocurrencies directly. Solana has increased by over 40% within the last month. It is experiencing a surge in on-chain activity, a larger developer ecosystem, and an augmented institutional demand.
The BSOL launch comes amid a wave of new crypto ETFs entering the U.S. market. Canary Capital plans to list Litecoin (LTC) and Hedera (HBAR) ETFs on Nasdaq on the same day. The Grayscale Solana Trust ETF is expected to convert shortly afterward. The U.S. government shutdown has slowed SEC operations , which has delayed several ETF decisions but did not halt ETF approvals. Firms can file S-1 registration statements, which become effective automatically after 20 days. This process enabled Bitwise and other issuers to move forward despite limited regulatory staffing.
ETF Structure and Trading Details
The Bitwise Solana Staking ETF tracks both SOL price and staking rewards. All assets are stored in institutional-grade cold storage. The fund is benchmarked to the Compass Solana Total Return Monthly Index, net of fees.
Investors benefit from blockchain-native yields without managing staking infrastructure. The 0.20% percent management fee is also less than most of the Bitcoin and Ethereum ETFs that charge 0.21% to 0.25% percent. Early investor fee waivers are meant to increase early adoption and market share.
Regulatory Approval and Competitive Context
The NYSE has certified the listing, completing all exchange-level requirements. This formal approval allows BSOL to begin trading immediately. The listing positions Solana alongside Bitcoin and Ethereum in regulated U.S. markets.
The launch signals a growing wave of crypto-focused ETFs competing on liquidity, yield, and cost. Analysts view the product as a potential catalyst for additional single-asset crypto ETFs. Bitwise’s initiative combines staking rewards with institutional access, creating a new model for regulated crypto investments.
