Bitwise Asset Management has filed an amended Solana ETF application with the U.S. Securities and Exchange Commission (SEC), introducing staking as part of the fund’s strategy. The updated filing, submitted on October 8, 2025, rebrands the product as the “Bitwise Solana Staking ETF” and outlines a unitary sponsor fee of 0.20%. The move positions Bitwise as the first asset manager to formally integrate staking yield within a U.S. exchange-traded fund tied to Solana (SOL).
If approved, the Bitwise Solana Staking ETF would allow investors to gain exposure not only to Solana’s market price but also to staking rewards generated through its proof-of-stake (PoS) mechanism. In the filing, Bitwise specifies that the ETF’s assets will be staked directly on the Solana network, earning yield that would be reflected in the fund’s performance. This marks a significant evolution in crypto ETF design, moving beyond simple price tracking toward active participation in blockchain ecosystems.
Staking is a fundamental component of Solana’s network operations, allowing participants to secure the blockchain and validate transactions while earning rewards. By incorporating staking into an ETF structure, Bitwise aims to replicate on-chain yield opportunities within a regulated investment framework. The move comes at a time when Solana continues to gain institutional interest due to its high throughput, low fees, and expanding DeFi and NFT ecosystems.
This development follows similar moves by 21Shares, which also added staking to its Solana ETF filing. Both firms are vying to capture the next wave of institutional capital seeking diversified crypto exposure with income-generating potential. Analysts view the introduction of staking-enabled ETFs as a step toward legitimizing blockchain yield mechanisms in mainstream finance.
Bitwise’s proposed 0.20% management fee sets a new benchmark for cost efficiency among crypto ETFs. Compared to existing Bitcoin and Ethereum ETFs, the Bitwise Solana Staking ETF offers one of the lowest fee structures in the market, signaling an aggressive strategy to attract retail and institutional investors alike.
However, incorporating staking into a regulated ETF introduces complex compliance considerations. The SEC must evaluate how staking rewards are treated under securities laws and whether the structure aligns with existing rules around fund income reporting, custody, and potential slashing risks. While staking could enhance returns, it also exposes the ETF to on-chain risks, such as validator penalties and network downtime.
If approved, the Bitwise Solana Staking ETF could pave the way for broader integration of decentralized finance (DeFi) mechanisms into traditional investment vehicles. Experts suggest that this innovation could bridge the gap between on-chain activity and Wall Street, providing investors with transparent, yield-generating exposure to blockchain assets.
The SEC’s decision will be closely watched by the industry, as it may set a precedent for future staking-enabled ETFs based on other proof-of-stake networks like Ethereum, Avalanche, and Cosmos. For now, Bitwise’s filing signals a clear intent: to lead the next phase of crypto ETF evolution, merging yield generation with regulatory oversight and institutional-grade access.
