Bitwise ‘not playing’ as it proposes low fee for its Solana ETF
Bitwise is seemingly already moving to undercut other issuers with its Solana Staking ETF, proposing an annual fee of just 0.20%.
Asset manager Bitwise’s decision to set a 0.20% fee on its amended US-based Solana ETF application, which now includes staking, may be a sign of how competitive the product could get among ETF issuers, according to ETF analyst Eric Balchunas.
“Thought we’d see higher first, need war to get this low,” Balchunas said in an X post on Wednesday. “They prob figured it’s gonna end up there anyway, so just do it now,” he said, adding it is a “veteran Terrordome move right there.”
Bitwise amended its filing with the US Securities and Exchange Commission on Wednesday, updating the proposed Solana (SOL) ETF to include an annual management fee of 0.20% and the addition of a staking feature. The fee places it in the middle of the range for most crypto ETFs, which typically fall between 0.15% and 0.25%.
