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Big success for Solana: NYSE approves first staking ETF!
Bitwise Receives NYSE Approval for Solana Staking ETF. Expected to launch on October 28, 2025, encourages institutional investment.
Big success for Solana: NYSE approves first staking ETF!
The New York Stock Exchange (NYSE) granted approval to list the Bitwise Solana Staking ETF on October 27, 2025. This decision represents a significant step towards institutional acceptance of Solana in the US markets. The formal listing notice states that all exchange-level requirements have been met. Bloomberg analyst Eric Balchunas has pointed out that the ETF could potentially launch as early as October 28, alongside Litecoins and HBAR ETFs.
The Solana ETF aims to track the price of SOL and the network's staking rewards. It is backed by SOL in institutional cold storage and benchmarked against the Compass Solana Total Return Monthly Index, net of fees and expenses. This initiative could further increase institutional investor interest in Solana as the NYSE has created a key infrastructure endpoint for trading with this approval.
Fund details and fees
Interested investors can participate in the staking returns without having to manage private keys or staking infrastructure themselves. Bitwise has set a management fee of 0.20%, which is lower than the fees of many Bitcoin and Ethereum ETFs, which range from 0.21% to 0.25%. In addition, the management fee will be waived for the first three months and for the first $1 billion in assets under management.
The approval of the institutional product brings Solana into line with Bitcoin and Ethereum, which are already available to institutional investors. Several other issuers, including Canary, are also preparing to launch Litecoin and HBAR funds simultaneously. Canary had filed Form 8-A for its Litecoin and HBAR ETFs on the same day. This indicates a growing trend of institutional funds entering the cryptocurrency market more and more.
Overall, the approval of the Bitwise Solana Staking ETF shows that the NYSE is ready to participate in the rapidly evolving digital asset markets and thereby contribute to further establishing Solana in the institutional sector. The coming weeks could be crucial for Solana adoption and trading.