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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/09/2025

Bitwise fires the first shot in a new "fee war" with a proposed Solana ETF at just 0.20%/year

Asset manager Bitwise is turning heads in the crypto investment world after filing an updated application for a Solana Staking ETF in the U.S., with a management fee of just 0.20%/year — significantly lower than the 0.75% charged by the existing REX-Osprey Solana ETF (SSK). The move is seen as a strategic play, signaling Bitwise's aggressive intent to compete as the Solana ETF race heats up by the day. According to ETF analyst Eric Balchunas, Bitwise "threw a punch before the fight even started," calling it "a seasoned move in the ETF arena." He believes the low fee structure could unlock massive capital inflows once the product receives official approval.

Bitwise fires the first shot in a new "fee war" with a proposed Solana ETF at just 0.20%/year

Asset manager Bitwise is turning heads in the crypto investment world after filing an updated application for a Solana Staking ETF in the U.S., with a management fee of just 0.20%/year — significantly lower than the 0.75% charged by the existing REX-Osprey Solana ETF (SSK).

The move is seen as a strategic play, signaling Bitwise's aggressive intent to compete as the Solana ETF race heats up by the day. According to ETF analyst Eric Balchunas, Bitwise "threw a punch before the fight even started," calling it "a seasoned move in the ETF arena." He believes the low fee structure could unlock massive capital inflows once the product receives official approval.

History shows that low-fee ETFs tend to dominate in terms of capital flows, a lesson driven home by the spot Bitcoin ETF market earlier in 2024, when VanEck temporarily waived its fees entirely to attract investors. With a similar playbook, Bitwise may be positioning itself to ride a new wave of investment into Solana.

Unlike futures-based products, Bitwise's ETF would be fully backed by spot Solana (spot SOL) and include staking functionality, improving price-tracking efficiency and generating additional yield for investors. Analysts say this is precisely the edge that could set Bitwise apart from the competition.

Notably, BlackRock has yet to make any moves on a Solana ETF, leaving an opening for firms like Bitwise to claim first-mover advantage. Many analysts expect the U.S. Securities and Exchange Commission (SEC) could approve the first Solana ETFs as early as mid-October.

With Solana up more than 6% over the past 30 days and trading around $227, the market is increasingly betting that Solana could become the "next Bitcoin" in the ETF era, opening a new chapter for institutional capital flows into the altcoin market.