Bitwise Launches First U.S. Spot Solana ETP, Targeting 7% Staking Rewards

Bitwise Asset Management has announced the launch of the Bitwise Solana Staking ETF (NYSE: BSOL), marking the first U.S. exchange-traded product (ETP) to offer 100% direct exposure to Solana (SOL). Trading commenced on the NYSE on October 28, 2025, with BSOL distinguishing itself by aiming to stake all its SOL holdings in-house using Helius Labs' technology, targeting Solana's average staking rewards of over 7%.

The new ETP carries a management fee of 0.20%, which will be waived for the first three months on the initial $1 billion in assets under management. Bitwise stated in a tweet, "> Bitwise is excited to announce the long-awaited launch of $BSOL, the first U.S. ETP with 100% direct exposure to SOL. BSOL aims to stake 100% of its SOL holdings in-house, using @heliuslabs technology." This strategy is designed to maximize returns for investors by leveraging Solana's proof-of-stake mechanism.

Matt Hougan, Chief Investment Officer of Bitwise, emphasized Solana's potential, stating, “We believe Solana is one of the most exciting crypto investment opportunities that exists today.” He highlighted Solana's capacity to handle high transaction volumes efficiently and at low cost, positioning it as a strong contender in the stablecoin and tokenization markets. Solana has also generated over $2 billion in network revenue in the past year, surpassing other blockchains.

Helius, which manages over 13 million staked SOL and serves as the exclusive staking provider for BSOL, plays a crucial role in the ETP's operation. Mert Mumtaz, CEO and Co-founder of Helius, commented on the partnership, "Partnering on Bitwise's Solana Staking ETF enables traditional investors to own a piece of the innovation happening on Solana every day." The launch follows the introduction of spot Bitcoin and Ethereum ETPs, further integrating digital assets into mainstream financial markets.

Hunter Horsley, CEO of Bitwise, underscored the broader significance of the launch, noting, “2025 has been a turning point for crypto. At long last, it is rapidly being accepted as a mainstream alternative asset class.” The introduction of BSOL provides a regulated pathway for investors to access Solana's ecosystem, which boasts over 2,000 developers and millions of monthly active users. Kristin Smith, president of the Solana Policy Institute, called the launch a "watershed moment" for regulated crypto access.