Bitwise Solana Staking ETF Nears Launch as SEC Decision Looms

Bitwise is preparing to launch its long-awaited Solana ETF (BSOL) as the U.S. Securities and Exchange Commission (SEC) nears its final decision deadline on October 16. The asset management firm recently filed its fifth amendment, signaling readiness for listing on the CBOE BZX Exchange. Notably, Bitwise rebranded the product as the Bitwise Solana Staking ETF and set an aggressive 0.20% management fee, among the lowest in the industry. Bloomberg’s James Seyffart described it as “a bottom-level fee slash,” while fellow analyst Eric Balchunas noted the move shows Bitwise “isn’t playing around,” aiming to capture early investor inflows.

The amended filing reveals fee waivers for the first three months or until assets under management (AUM) reach $1 billion—an incentive designed to attract early adopters. Legal and compliance partners include Chapman and Cutler LLP (legal counsel), Fenwick & West LLP (tax counsel), and KPMG as the accounting firm. Bitwise also named Attestant as its delegated staking provider, with custody managed by Coinbase Custody, ensuring robust institutional-grade security and staking infrastructure.

Despite optimism, the SEC’s approval timeline faces uncertainty amid a U.S. government shutdown that has already delayed other ETF decisions, such as the Canary Litecoin ETF. While October 10 marked the initial final deadline, Bloomberg analysts suggest that the SEC’s generic listing request may render specific dates less relevant.

Market sentiment around Solana (SOL) remains bullish as anticipation builds. SOL’s price climbed over 4% in the past 24 hours, trading near $227.83, though volume dipped 27%. If approved, Bitwise’s ETF could become the first Solana staking ETF in the U.S., setting a competitive benchmark for low-cost crypto investment products.