Key Takeaways:
- Bitwise proposed a Solana staking ETF with a low 0.20% fee, undercutting rivals and adding a staking feature to attract investors.
- The fund is structured for full spot Solana backing, aiming to avoid tracking issues seen in competing products like SSK.
- Analysts speculate on BlackRock’s absence from the Solana ETF race, with expectations of potential regulatory approvals by mid-October.
Bitwise has intensified competition in the race to launch a Solana staking exchange-traded fund (ETF) by proposing a low annual management fee of just 0.20% in its updated filing with the U.S. Securities and Exchange Commission (SEC).
ETF analyst Eric Balchunas called it a “veteran Terrordome move,” noting that low fees have a near-perfect record of attracting investors.
Bitwise not playing around, plans to charge just 0.20% for their spot Solana ETF. Thought we'd see higher first, need war to get this low. They prob figured it's gonna end up there anyway so just do it now (veteran Terrordome move right there). Low fees have near perfect record… https://t.co/wzoy2deqie
— Eric Balchunas (@EricBalchunas) October 8, 2025
The proposal also introduces staking, making Bitwise’s fund one of the first Solana ETFs to offer yield generation.
At 0.20%, it sits within the 0.15–0.25% range typical for crypto ETFs and is well below the 0.75% fee charged by the existing REX-Osprey Solana Staking ETF (SSK), which launched in July 2025 with $12 million in first-day inflows.
Balchunas added that SSK has struggled with tracking accuracy, trailing spot Solana by 12%, while Bitwise’s ETF aims to be fully backed by spot Solana for better tracking performance.
Analysts such as Nate Geraci predict that multiple Solana ETF approvals could come by mid-October.
Meanwhile, industry watchers question why BlackRock has yet to file a Solana ETF, fueling speculation that the asset manager might enter the race late to compete with early movers like Bitwise and VanEck.
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