Bitwise $BSOL Launches as First US Spot Solana ETP on NYSE

On October 28, 2025, Bitwise's $BSOL began trading on the NYSE, marking the first spot Solana ETP to launch in the U.S. This is considered a significant step for regulated crypto access.

Grayscale's spot $GSOL ETP is expected to begin trading soon, offering exposure to Solana through traditional brokerage accounts.
The launches follow spot Bitcoin and Ethereum ETPs that started trading in 2024.
The SEC's standards for crypto ETPs, aided by CME Solana futures, facilitated these products' introduction.
Kristin Smith of the Solana Policy Institute highlighted the importance for investor access via familiar financial channels.

BSOL Features and Fee Structure

Bitwise Solana Staking ETF has a 0.20% annual sponsor fee, waived on the first $1 billion in assets for three months.
The fund aims to generate additional Solana through staking, with Coinbase Custody Trust Company as custodian.
In contrast, Grayscale's Solana Trust trades over-the-counter, with a 12-month market price return of -80.59% compared to a NAV return of 31.54%.
Grayscale charges a 2.50% annual management fee and has added staking to its Solana Trust.

Availability and Market Impact

BSOL is available on platforms like DEGIRO, IG.com, and Interactive Brokers.
Grayscale's GSOL trust is accessible via Fidelity, Charles Schwab, and Robinhood.
Analysts anticipate potential significant gains in SOL price following the ETP launches.
The U.S. Solana ETP approvals are part of broader growth in regulated crypto offerings, similar to BTC and ETH ETPs launched globally.