Solana

Grayscale

would

BlackRock

Asset manager Bitwise’s decision to set a 0.20% fee on its amended US-based Solana ETF application, which now includes staking, may be a sign of how competitive the product could get among ETF issuers, according to ETF analyst Eric Balchunas.
“Thought we’d see higher first, need war to get this low,” Balchunas <a href="https://x.com/EricBalchunas/status/1976037299373646270" rel="noopener noreferrer nofollow" target="_blank">said</a> in an X post on Wednesday. “They prob figured it’s gonna end up there anyway, so just do it now,” he said, adding it is a “veteran Terrordome move right there.”
Bitwise <a href="https://www.sec.gov/Archives/edgar/data/2045872/000121390025097494/ea0260657-s1a5_bitwise.htm" rel="noopener noreferrer nofollow" target="_blank">amended</a> its filing with the US Securities and Exchange Commission on Wednesday, updating the proposed Solana (<a href="/solana-price-index" rel="noopener noreferrer nofollow">SOL</a>) ETF to include an annual management fee of 0.20% and the addition of a staking feature. The fee places it in the middle of the range for most crypto ETFs, which typically fall <a href="https://cointelegraph.com/news/blackrock-sets-fee-spot-ethereum-etf-amid-s1-filings" rel="noopener noreferrer nofollow">between 0.15% and 0.25%</a>.
“Low fees have a near-perfect record of attracting investors, so it’s a good sign for inflow potential,” Balchunas explained.
<h2 id="crypto-etf-fee-speculation-has-been-around-for-some-time">Crypto ETF fee speculation has been around for some time</h2>
Ahead of potential crypto ETF launches, industry attention has often focused on which ETF issuers would offer the lowest fees.&nbsp;
<figure><img alt="United States, Solana, ETF" src="https://s3.cointelegraph.com/uploads/2025-10/0199c771-19ba-77d9-9019-40a7c3520ac0" title="">
 <figcaption style="text-align: center;">Solana is up 6.11% over the past 30 days, trading at $227 at the time of publication. Source: <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow" target="_blank">CoinMarketCap</a>
 </figcaption>
</figure>
The competition was especially fierce before the US debut of spot Bitcoin (<a href="/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) ETFs in January 2024, when asset manager VanEck waived all fees and later extended the waiver through January 2026 for up to $2.5 billion in assets under management. Meanwhile, Grayscale Bitcoin Mini Trust (<a href="/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) set an annual sponsor fee of 0.15%.
On July 2, the US’s first Solana staking ETF, the REX-Osprey <a href="https://cointelegraph.com/news/first-solana-staking-etf-hits-12m-on-debut-trading-day" rel="noopener noreferrer nofollow">Solana Staking ETF</a> (SSK) ended its debut trading day with $12 million in inflows. The annual management fee for the SSK is 0.75%.
<h2 id="blackrock-s-silence-on-solana-etf">BlackRock’s silence on Solana ETF&nbsp;</h2>
However, Balchunas <a href="https://x.com/EricBalchunas/status/1976091652688056487" rel="noopener noreferrer nofollow" target="_blank">pointed out</a> that Bitwise’s proposed offering is cheaper, has better tracking, and is 100% physically backed by Solana's spot assets. “SSK is riddled with tracking issues like a futures ETF. It trails spot Solana by 12%- although it got better in the past month,” he said.
Related: <a href="https://cointelegraph.com/news/spot-bitcoin-etfs-second-highest-inflow-since-inception" rel="noopener noreferrer nofollow">US Bitcoin ETFs post 2nd-highest inflows since launch on crypto rally</a>
Crypto commentator Magoo PhD <a href="https://x.com/HodlMagoo/status/1976125908021850608" rel="noopener noreferrer nofollow" target="_blank">echoed</a> a statement that has been asked by many in recent times over why the world’s largest asset manager, BlackRock, “is not filing for a SOL ETF.”
ETF analyst James Seyffart recently <a href="https://cointelegraph.com/news/blackrock-launching-a-sol-etf-in-first-wave-would-be-messed-up-analyst" rel="noopener noreferrer nofollow">said that it would</a> be “messed up” if BlackRock were to file a last-minute application to launch alongside other issuers, after those firms had already done the heavy lifting with the SEC to get the products market-ready.
ETF analyst Nate Geraci forecasted on Sept. 26 that several applications for Solana ETFs with staking could receive <a href="https://cointelegraph.com/news/solana-staking-etfs-us-approval-prediction-analyst" rel="noopener noreferrer nofollow">US approval by mid-October</a>.
Magazine: <a href="https://cointelegraph.com/magazine/europe-chat-control-germany-oppose-scan-messages/" rel="noopener noreferrer nofollow">EU’s privacy-killing Chat Control bill delayed — but fight isn’t over</a>

Bitwise ‘not playing’ as it proposes low fee for its Solana ETF

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