Bitwise sets aggressive tone in the Solana ETF race, introducing staking and the lowest management fee among major issuers.
Bitwise Takes Bold Step with Low-Fee Solana ETF
Asset manager Bitwise has turned heads after amending its Solana ETF filing with the U.S. Securities and Exchange Commission (SEC) to include staking and an annual management fee of just 0.20%. The move positions Bitwise as one of the most competitive players in the fast-emerging Solana ETF market.
Solana’s price has risen 6.11% over the past 30 days, trading around $227 at publication. Analysts expect continued institutional interest if staking ETFs gain approval.
ETF analyst Eric Balchunas called the move a “veteran Terrordome strategy,” noting that Bitwise may have preemptively dropped fees to where competition will inevitably land. “They probably figured it’s gonna end up there anyway, so just do it now,” he added in an X post.
With this filing, Bitwise’s Solana Staking ETF becomes one of the cheapest crypto-linked ETFs on the U.S. market, setting the stage for a potential “fee war” among issuers.
The 0.20% fee puts Bitwise directly in the middle of the typical crypto ETF range (0.15%–0.25%), but far below rival products such as the REX-Osprey Solana Staking ETF (SSK), which charges 0.75%.
Balchunas noted that Bitwise’s approach offers “better tracking, full physical Solana backing, and 100% staking integration,” unlike SSK, which has shown up to 12% tracking divergence from spot Solana prices.
“Low fees have a near-perfect record of attracting investors,” Balchunas explained. “This sets Bitwise up for strong inflows once approved.”
Industry Eyes Turn Toward BlackRock’s Next Move
Despite rising competition, BlackRock — the world’s largest asset manager — has yet to file for a Solana ETF, a move that continues to puzzle analysts.
Crypto commentator Magoo PhD questioned on X why BlackRock “is not filing for a SOL ETF,” given its growing dominance in other crypto ETF sectors.
ETF expert James Seyffart added that it would be “messed up” if BlackRock entered the race last minute, given that firms like Bitwise and others have already done the groundwork with the SEC.
ETF strategist Nate Geraci forecasted that several Solana ETF applications — including staking-enabled versions — could receive approval by mid-October 2025.
By combining staking rewards with a rock-bottom 0.20% fee, Bitwise has effectively ignited a new stage of ETF competition — one that prioritizes low cost, high transparency, and performance tracking.
If approved, the Bitwise Solana ETF could become the benchmark for future crypto ETF structures — forcing competitors to either match its innovation or risk losing investor appeal.
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