Solana News Today: Bitwise's Staking ETF Ignites Crypto Fee War with 0.20% Charge

Bitwise Asset Management has revised its application for a Solana (SOL) Exchange-Traded Fund (ETF) to include a staking feature and a 0.20% annual management fee, positioning the fund as a competitive option in the expanding U.S. crypto ETF market. The updated Bitwise Solana Staking ETF, which will trade under the ticker "BSOL" on the Cboe BZX Exchange, allows investors to earn staking rewards while retaining exposure to Solana's price movements. The fee aligns with Bitwise's rates for its Bitcoin and Ethereum ETFs, emphasizing the firm's strategy to maintain consistent pricing across its digital asset offerings. The fund will use the CME CF Solana–Dollar Reference Rate to determine its net asset value (NAV), enhancing transparency in valuation.

The addition of staking represents a significant innovation in U.S.-listed crypto products, addressing growing demand for yield-generating exposure to digital assets. By integrating staking rewards, the ETF could attract both institutional and retail investors seeking cost-effective access to the Solana ecosystem. Coinbase Custody and Attestant have been named as staking custodians and providers, ensuring the fund can securely participate in Solana's consensus mechanism while adhering to governance protocols. Analysts, including Bloomberg's Eric Balchunas, have labeled the 0.20% fee as "unexpectedly aggressive," noting its potential to drive inflows in a market where fees for similar products typically range between 0.21% and 0.75%.

Regulatory developments have also accelerated the approval timeline for crypto ETFs. In September 2025, the SEC approved generic listing standards for commodity-based ETFs, eliminating the need for individual reviews and reducing approval times from 240 days to as few as 75 days. This shift streamlines the process for spot crypto ETFs, allowing exchanges to list products without prior SEC scrutiny if they meet predefined criteria. The decision, endorsed by SEC Chairman Paul Atkins, aims to reduce barriers to regulated digital asset access and foster innovation in U.S. capital markets. The approval also paved the way for the Grayscale Digital Large Cap Fund, which tracks the CoinDesk 5 Index, and expanded options tied to the Cboe Bitcoin U.S. ETF Index.

Market reactions to the updated filings have been positive, with Solana's price rising nearly 4% in 24 hours amid optimism over ETF-related demand. Helius, a Hong Kong-based digital asset treasury firm, further bolstered institutional interest by announcing plans to acquire at least 5% of Solana's circulating supply-valued at over $6 billion-once regulatory thresholds are met. Meanwhile, competitors like 21Shares and Grayscale have also introduced staking features in their Ethereum and Solana ETF proposals, signaling a broader industry shift toward active participation in blockchain ecosystems.

The competitive landscape is intensifying, with Bitwise's low fee and staking capabilities setting a new benchmark. The REX-Osprey Solana Staking ETF (SSK), which launched in July 2025 with a 0.75% fee, has already attracted $212 million in assets under management, highlighting the potential for rapid adoption. Analysts predict a "fee war" akin to the Bitcoin ETF approval period in 2024, where aggressive pricing drove market share gains. However, regulatory delays linked to a U.S. government shutdown have pushed potential approval dates for Solana ETFs beyond initial expectations, with decisions now contingent on the SEC resuming full operations.

The broader implications of these developments extend beyond Bitwise. The SEC's streamlined framework could catalyze a wave of altcoin ETFs, with experts forecasting dozens of new products in the coming months. Kristin Smith of the Solana Policy Institute emphasized the move as a "net-positive for U.S. investors and markets," while James Seyffart of Bloomberg Intelligence described it as the "crypto ETP framework we've been waiting for". As the industry navigates these changes, the integration of staking in ETFs marks a pivotal step toward bridging traditional finance and decentralized ecosystems, offering regulated access to yield-generating digital assets.

Source: [1] The Crypto Times (https://www.cryptotimes.io/2025/10/09/bitwise-amends-its-solana-etf-filing-ahead-of-sec-approval/)

[2] COINOTAG (https://en.coinotag.com/bitwise-could-offer-solana-etf-with-staking-and-0-20-fee-as-analysts-note-intensifying-competition-sec-delays-possible/)

[3] Invezz (https://invezz.com/news/2025/10/09/solana-etf-fee-cuts-and-6b-bet-send-sol-price-into-overdrive/)

[4] Coindesk (https://www.coindesk.com/policy/2025/09/17/sec-makes-spot-crypto-etf-listing-process-easier-approves-grayscale-s-large-cap-crypto-fund)

[7] Decrypt (https://decrypt.co/343490/bitwise-21shares-staking-fees-solana-ethereum-etf)

[11] Markets.FinancialContent (https://markets.financialcontent.com/stocks/article/marketminute-2025-9-16-solana-etfs-with-staking-the-new-frontier-for-institutional-crypto-investment)