Key Takeaways
- • Bitwise Asset Management launched the Bitwise Solana Staking ETF (NYSE: BSOL), which it describes as the first U.S. exchange-traded product with 100% direct exposure to SOL, and one of the first crypto ETPs with built-in staking.
- • BSOL begins trading on the NYSE on October 28, 2025, with a 0.20% management fee, waived to 0% for the first three months on the first $1 billion in assets.
- • Bitwise intends to stake 100% of the fund's SOL holdings through Bitwise Onchain Solutions, powered by Helius, targeting average Solana staking rewards of over 7% (annualized 90-day average as of 10/22/25).
- • Bitwise describes the product as offering in-kind creation and redemption, and the firm reports $15 billion in client assets per the launch announcement (its boilerplate cites $9 billion in a separate description).
- • The launch carries staking, liquidity, blockchain and SOL-specific risks, and the fund is not registered under the Investment Company Act of 1940.
Summary
Bitwise Asset Management announced the launch of the Bitwise Solana Staking ETF (NYSE: BSOL), which the firm says is the first exchange-traded product in the U.S. with 100% direct exposure to Solana (SOL) and one of the first crypto ETPs with built-in staking. The fund will trade on the NYSE starting October 28, 2025, under the ticker BSOL. Its management fee is 0.20%, set at 0% for the first three months on the first $1 billion in assets.
Bitwise intends to stake 100% of the fund's SOL holdings through Bitwise Onchain Solutions, powered by Helius, which manages more than 13 million staked SOL. The strategy aims to maximize investors' participation in Solana's average staking rewards of over 7%, a figure the firm states is based on the annualized 90-day average as of 10/22/25. The fund will offer in-kind creation and redemption. Bitwise notes that staking rewards are subject to change and are not an indication of fund performance, and that tax treatment of rewards may have adverse consequences for shareholders.
Matt Hougan, Chief Investment Officer of Bitwise, said Solana's throughput and low costs make it a serious competitor in the stablecoin and tokenization markets, and that Solana generates more revenue than any other blockchain. The firm cites Blockworks data showing Solana generated over $2 billion in network revenue over the prior year. Bitwise also cites Solana Foundation figures for transaction confirmation of about 400 milliseconds and a median transaction fee of $0.001. Hunter Horsley, CEO of Bitwise, described 2025 as a turning point in which crypto is being accepted as a mainstream alternative asset class, and said the firm has never seen more investor interest in the space.
Mert Mumtaz, CEO and Co-founder of Helius, said the partnership enables traditional investors to own a piece of Solana's ecosystem and that Helius is the exclusive staking provider for BSOL. Bitwise is the sponsor of the fund, and Foreside Fund Services serves as marketing agent. The fund is not registered under the 1940 Act and is therefore not subject to the same protections as registered ETFs and mutual funds. Bitwise's disclosures highlight risks including SOL price volatility, liquidity, regulatory change, staking and slashing penalties, nondiversification, and limited operating history.
Bitwise intends to stake 100% of the fund's SOL holdings through Bitwise Onchain Solutions, powered by Helius, which manages more than 13 million staked SOL. The strategy aims to maximize investors' participation in Solana's average staking rewards of over 7%, a figure the firm states is based on the annualized 90-day average as of 10/22/25. The fund will offer in-kind creation and redemption. Bitwise notes that staking rewards are subject to change and are not an indication of fund performance, and that tax treatment of rewards may have adverse consequences for shareholders.
Matt Hougan, Chief Investment Officer of Bitwise, said Solana's throughput and low costs make it a serious competitor in the stablecoin and tokenization markets, and that Solana generates more revenue than any other blockchain. The firm cites Blockworks data showing Solana generated over $2 billion in network revenue over the prior year. Bitwise also cites Solana Foundation figures for transaction confirmation of about 400 milliseconds and a median transaction fee of $0.001. Hunter Horsley, CEO of Bitwise, described 2025 as a turning point in which crypto is being accepted as a mainstream alternative asset class, and said the firm has never seen more investor interest in the space.
Mert Mumtaz, CEO and Co-founder of Helius, said the partnership enables traditional investors to own a piece of Solana's ecosystem and that Helius is the exclusive staking provider for BSOL. Bitwise is the sponsor of the fund, and Foreside Fund Services serves as marketing agent. The fund is not registered under the 1940 Act and is therefore not subject to the same protections as registered ETFs and mutual funds. Bitwise's disclosures highlight risks including SOL price volatility, liquidity, regulatory change, staking and slashing penalties, nondiversification, and limited operating history.
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