TLDR
- Solana surged nearly 4% in 24 hours, reaching a price of around $227.71.
- Bitwise reduced its Solana ETF management fee to 0.20 percent and added staking rewards.
- The Bitwise Solana Staking ETF will waive fees on the first $1 billion for three months.
- The move could trigger a fee war among ETF issuers similar to the one seen in Bitcoin ETFs.
- Competitors like 21Shares also updated their Ethereum ETF to include staking and fee waivers.
Solana (SOL) surged nearly 4% in the last 24 hours, outperforming the broader crypto market’s modest 0.55% gain. The rally follows two significant developments: a proposed Solana ETF with aggressive fee cuts and a $6 billion institutional commitment. Together, these catalysts pushed SOL’s price to around $227.71, strengthening bullish sentiment.
Bitwise Slashes Solana ETF Fees and Adds Staking
Bitwise triggered fresh optimism by revising its Solana ETF filing to include staking and a 0.20% management fee. The ETF, renamed the “Bitwise Solana Staking ETF,” also waives fees on the first $1 billion in assets for a period of three months. This move positions Bitwise ahead of rivals and may reshape competition in crypto ETFs.
Bitwise not playing around, plans to charge just 0.20% for their spot Solana ETF. Thought we'd see higher first, need war to get this low. They prob figured it's gonna end up there anyway so just do it now (veteran Terrordome move right there). Low fees have near perfect record… https://t.co/wzoy2deqie
— Eric Balchunas (@EricBalchunas) October 8, 2025
The fund aims to track Solana’s spot price and distribute staking rewards to its holders, enhancing potential returns. ETF analyst Eric Balchunas described Bitwise’s pricing strategy as a “veteran Terrordome move” that could attract strong inflows. Historically, low-fee funds outperform competitors in asset gathering, especially in emerging markets.
The revised filing mirrors the strategy seen during the Bitcoin ETF fee war earlier in 2024. Bitwise’s move undercuts the REX-Osprey Solana Staking ETF, which charges a 0.75% fee. This shift highlights how Solana ETF issuers are seeking to offer lower costs and value-added features.
Ethereum ETF Rivals Join Staking Race
As Bitwise advanced with its Solana ETF, competitors moved quickly to match its innovation and pricing aggression. On the same day, 21Shares updated its Ethereum ETF to include staking rewards and announced a year-long 0.21% fee waiver. This marks a broader shift among ETF issuers toward actively participating in blockchain.
Grayscale previously led this change by introducing staking to its Ethereum ETF in early October. Now, others are integrating similar features to remain competitive and appeal to yield-seeking investors. These upgrades make ETFs more attractive without changing risk levels.
Analysts believe this transition goes beyond passive exposure to a more dynamic model of blockchain engagement. With staking included, ETFs generate extra returns while tracking crypto spot prices. This evolution signals that Solana ETF products are becoming more investor-focused and performance-oriented.
Helius Commits to $6 Billion Solana Purchase
Institutional demand further boosted sentiment after Helius announced plans to acquire 5% of Solana’s circulating supply. The digital asset treasury firm aims to build a $6 billion stake once market conditions and regulations align. Helius has already secured $500 million in initial funding.
Joseph Chee, who leads the strategy, said the firm sees long-term value in Solana’s technical design and scalability. “Solana represents an ideal digital asset for treasuries,” Chee noted, referencing its growing ecosystem and efficiency. The bet echoes the success of Japan’s Metaplanet, which pivoted to Bitcoin and saw shares soar.
Helius, formerly a healthcare tech company, is transitioning into digital assets with this aggressive Solana ETF-inspired approach. Led by former UBS executives, the team sees strategic benefits in securing a prominent position on Solana early.
