In a landmark move for cryptocurrency adoption, Bitwise Asset Management has officially launched the Bitwise Solana Staking ETF (BSOL), the first-ever spot Solana exchange-traded product (ETP) in the United States. The fund aims to provide investors with direct exposure to SOL while staking 100% of its assets to capture Solana's staking rewards.

A New Era for Solana Investing

The Bitwise Solana Staking ETF, trading under the ticker BSOL on the NYSE, marks a significant milestone, opening up regulated and accessible Solana investment to a broader audience. Bitwise, a global crypto asset manager with over $15 billion in client assets, has structured the ETF to not only track the price of SOL but also to generate yield for its investors through staking.

The fund intends to stake 100% of its SOL holdings via Bitwise Onchain Solutions, a proprietary in-house service powered by Helius, a leading Solana infrastructure provider. This strategy is designed to maximize participation in Solana’s average staking rewards, which currently stand at over 7%.

Key BSOL Fund Details

Ticker: BSOL
Exchange: NYSE
Management Fee: 0.20% (0% for the first three months on the first $1B in assets)
Staking Target: 100% of Fund's SOL holdings

Why Solana is Gaining Institutional Attention

Matt Hougan, Chief Investment Officer of Bitwise, highlighted Solana's unique advantages, stating, "Its ability to transact huge volumes with high efficiency and low cost makes it a serious competitor for the stablecoin and tokenization markets." Solana's powerful on-chain fundamentals are a key driver behind this new product.

Core Strengths of the Solana Network

Solana stands out due to its technical capabilities:

  • Speed: Transaction confirmations in as little as 400 milliseconds.
  • Scalability: Capable of processing over 100,000 transactions per second.
  • Low Cost: A median transaction fee of just $0.001.
  • Revenue Generation: The network generated over $2 billion in revenue in the past year.

The Power of Integrated Staking

BSOL's built-in staking mechanism, powered by Helius, offers a best-in-class solution for maximizing rewards. Helius, which manages over 13 million staked SOL, provides the high-performance, secure infrastructure needed for an institutional-grade product.

Visual representation of the Bitwise Solana ETF (BSOL) launch, showing the Solana logo integrated with financial charts representing Wall Street adoption.
BSOL bridges the gap between traditional finance and the high-performance Solana blockchain.

"What Netflix did to video and what Amazon did to commerce, Solana is doing to capital markets," said Mert Mumtaz, CEO and Co-founder of Helius. "Partnering on Bitwise's Solana Staking ETF enables traditional investors to own a piece of the innovation happening on Solana every day."

The launch of BSOL is a pivotal moment, signaling crypto's growing acceptance as a mainstream asset class and providing a regulated pathway for investors to participate in the growth of one of blockchain's most promising technology platforms.