Bitwise to introduce the first U.S. Solana Staking ETF amid growing institutional interest in altcoin funds
The next wave of crypto exchange-traded funds (ETFs) is about to hit U.S. markets — this time spotlighting Solana (SOL). Asset management firm Bitwise confirmed that its Bitwise Solana Staking ETF (ticker: BSOL) will debut on the New York Stock Exchange on Tuesday, becoming the first U.S. exchange-traded product offering 100% direct exposure to spot SOL.
“Solana is headed into the mainstream — and we think it’s just getting started,” the company said in a statement on X, underscoring its belief in the network’s growing institutional appeal.
The launch comes as other firms rush to expand their crypto ETF portfolios. Canary Capital announced plans to list its Litecoin (LTC) and Hedera (HBAR) ETFs on Nasdaq on the same day, while the Grayscale Solana Trust ETF is reportedly scheduled to go live on Wednesday.
Solana’s entry into mainstream finance
Industry experts see the Bitwise launch as a pivotal moment for Solana’s positioning in traditional markets. Kristin Smith, president of the Solana Policy Institute, emphasized the broader significance of BSOL’s debut.
“The launch of the first spot Solana ETP in the U.S. demonstrates broad recognition of Solana’s role as critical financial infrastructure for the digital economy,” Smith said. “The rails of global finance are being rebuilt with Solana at the center, and investors will now have access to it.”
The BSOL ETF will provide investors with exposure to Solana’s price movements and staking rewards, marking a notable expansion beyond Bitcoin- and Ethereum-focused ETFs that have dominated the market over the past year.
ETF launches move ahead despite U.S. government shutdown
The launches are taking place against the backdrop of a U.S. government shutdown that has stretched into its second month, limiting the Securities and Exchange Commission’s (SEC) operational capacity. However, ETFs can still proceed under specific regulatory conditions.
According to recent guidance from the SEC, firms can file S-1 registration statements without a delaying amendment, allowing ETFs to automatically become effective within 20 days if no objections arise.
This process enables new funds like BSOL to launch even as the SEC operates with reduced staff.
Before the shutdown, the SEC had already approved new listing standards proposed by multiple exchanges to simplify crypto ETF listings. These changes paved the way for dozens of pending applications to move forward more efficiently.
Bitwise’s BSOL represents a turning point for institutional access to altcoin investments. The firm’s approach mirrors a broader market trend — investors seeking diversified exposure beyond Bitcoin as digital assets gain legitimacy in traditional finance.
“The debut of Solana’s first U.S. staking ETF signals a maturing market appetite for blockchain-based financial products,” said a New York-based crypto analyst.
With the Grayscale Solana Trust ETF following closely and more filings expected, analysts predict a surge of alternative crypto ETFs in late 2025 — a shift that could redefine digital asset investment strategies across Wall Street.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.