Solana market price volatility
The trust holds Solana directly, so changes in token price flow straight into NAV and share performance.
- Scope
- NAV and investor returns
- Materiality
- high
Bitwise Solana Staking ETF
Bitwise Solana Staking ETF is an exchange-traded trust that gives investors exposure to the price performance of Solana through a traditional brokerage account. The trust holds Solana directly, values its shares against the CME CF Solana – Dollar Reference Rate – New York Variant, and seeks to earn additional Solana through staking as a secondary objective. It is sponsored and managed by Bitwise Investment Advisers, LLC, with Coinbase Custody serving as custodian for the digital assets. The product is designed for investors who want Solana exposure without directly buying, storing, or managing the token themselves.
| % | |
|---|---|
| Exchange-traded Solana exposure | 80% Shares of a trust that track the value of Solana held by the vehicle, net of expenses and liabilities. |
| Staking yield | 20% Additional Solana earned by delegating trust holdings to staking agents under the secondary objective. |
The trust is bought by investors who want Solana exposure in a brokerage account rather than through a crypto wallet or...
- Retail brokerage investorsprimary
Individuals buying BSOL for convenient Solana exposure without managing wallets, keys, or exchange accounts.
- Registered investment advisersprimary
Advisers using the ETF structure to add Solana exposure within client portfolios and simplify operational handling.
- Tactical asset allocatorssecondary
Investors using Solana as a satellite or opportunistic allocation and valuing daily tradability.
- Digital asset specialistssecondary
Crypto-focused investors who want direct token exposure plus staking economics in a listed vehicle.
The trust is U.S.-based and its shares are listed on NYSE Arca in the United States. Its benchmark, custodian, sponsor,...
- •U.S.-listed ETF structure on NYSE Arca
- •Sponsor and management based in the United States
- •Coinbase Custody is a New York State trust company
- •Solana pricing reflects global digital-asset trading venues
- •No physical manufacturing footprint; geography is financial and regulatory
The trust’s strategy is to provide efficient Solana exposure in a familiar exchange-traded format, lowering the...
01
Build a simple exchange-traded Solana access productshort-term
A listed trust reduces the friction of direct crypto ownership and broadens the addressable investor base.
02
Capture staking economicsmedium-term
Staking is intended to add incremental Solana and improve the product’s value proposition versus a non-staking wrapper.
03
Preserve operational simplicity and cost efficiencyshort-term
A unitary fee structure and outsourced custody reduce complexity and make the product easier to operate and market.
The trust is exposed to Solana price volatility, which directly drives NAV and investor returns because the vehicle...
Staking and validator risk
Additional Solana depends on staking agents and network behavior, creating operational and protocol exposure.
- Scope
- Staking yield and asset safety
- Materiality
- high
Custody and cyber/security risk
Digital assets are held with a third-party custodian and are not FDIC insured, so theft or operational failure could impair assets.
- Scope
- Asset custody
- Materiality
- high
Regulatory risk for crypto ETPs
Changes in U.S. securities, tax, or digital-asset rules could affect the trust’s structure, operations, or investor demand.
- Scope
- Product viability and distribution
- Materiality
- medium
Fair value and pricing benchmark risk
NAV depends on benchmark and principal-market pricing inputs that can be disrupted or become less representative in volatile markets.
- Scope
- Valuation and reporting
- Materiality
- medium
Fair value measurement of Solana
NAV, unrealized gains/losses, and balance sheet carrying value
Sponsor fee accrual based on NAV
Operating expenses and net asset value
Staking reward recognition
Asset growth and reported results
Quarterly volatility in crypto valuations
Earnings comparability and NAV fluctuations
Franklin Solana Trust
SOEZ · Commodity Contracts Brokers & Dealers
Franklin Solana Trust is a Delaware statutory trust that issues exchange-traded shares designed to provide investors with exposure to Solana through the securities markets.
Grayscale Solana Staking ETF
GSOL · Commodity Contracts Brokers & Dealers
Grayscale Solana Staking ETF is a Delaware statutory trust that holds Solana (SOL) tokens and seeks to give investors exchange-traded exposure to SOL, including staking-related economics.
Bitwise Ethereum ETF
ETHW · Finance Services
Bitwise Ethereum ETF is a U.S.-listed exchange-traded fund structured as a Delaware statutory trust that gives investors exposure to ether without requiring…
Invesco Galaxy Solana ETF
QSOL · Commodity Contracts Brokers & Dealers
Invesco Galaxy Solana ETF is a Delaware statutory trust that issues exchange-traded shares designed to track the spot price of Solana (SOL), with an added objective of capturing staking rewards.
Canary Marinade Solana ETF
SOLC · Commodity Contracts Brokers & Dealers
Canary Marinade Solana ETF is a U.S.-listed exchange-traded fund structured as a trust that holds Solana (SOL) and seeks to track its price, net of trust expenses and liabilities.
Fidelity Solana Fund
FSOL · Commodity Contracts Brokers & Dealers
Fidelity Solana Fund is a U.S.-listed exchange-traded product trust that gives investors exposure to Solana (SOL) through traditional brokerage accounts.
: 11/08/2026