Bitwise Pulls a Fast One with Dirt-Cheap Solana ETF Fee! 😱

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In a move that left ETF analysts clutching their pearls-or at least their Bloomberg terminals-asset manager Bitwise has lobbed a financial grenade into the crypto ETF arena by proposing a mere 0.20% fee for its Solana ETF. And, as if that weren’t enough to send the competition into a state of apoplexy, they’ve thrown in staking for good measure. One can almost hear the collective groan from rival firms. ETF sage Eric Balchunas, never one to mince words, remarked on X, “Thought we’d see higher first, need war to get this low.” A veteran Terrordome move indeed. 🎯

Bitwise, displaying the cunning of a fox who’s just discovered the henhouse door was left ajar, amended its SEC filing on Wednesday, casually slipping in this bargain-basement fee. For context, crypto ETFs usually hover between 0.15% and 0.25%, so Bitwise has positioned itself squarely in the Goldilocks zone-not too hot, not too cold, just right to make everyone else look greedy. Balchunas, ever the optimist, noted, “Low fees have a near-perfect record of attracting investors,” which is financial-speak for “Cha-ching!” 💰

The Great Fee Fracas: A Saga as Old as Time (or at least ETFs)

The crypto ETF world has long been obsessed with fees-who’s charging what, who’s undercutting whom, and who’s quietly weeping into their spreadsheet. The Bitcoin ETF launch earlier this year was a veritable fee-palooza, with VanEck waving its fees like a matador’s cape and Grayscale sneaking in at 0.15%. Meanwhile, Bitwise’s Solana ETF, at 0.20%, is practically the thrift store of ETFs-though admittedly, a thrift store where the goods appreciate wildly.

Not to be outdone, the REX-Osprey Solana Staking ETF (SSK) made its debut with a fee of 0.75%, which, compared to Bitwise’s offering, looks like the price of a first-class ticket when everyone else is flying budget. Balchunas couldn’t resist pointing out that SSK trails spot Solana by 12%, which is roughly the same margin by which your uncle’s stock picks trail the S&P 500. 📉

BlackRock’s Silence: The Elephant in the ETF Room

Meanwhile, BlackRock-the financial world’s equivalent of that one friend who never texts back-has remained conspicuously mum on the Solana ETF front. Crypto commentator “Magoo PhD” voiced what everyone’s thinking: “Why isn’t BlackRock filing for a SOL ETF?” ETF analyst James Seyffart speculated that it would be “messed up” if BlackRock swooped in at the last minute after others did all the heavy lifting. Nate Geraci, ever the soothsayer, predicts Solana ETFs could get the green light by mid-October. Until then, the fee wars rage on, and Bitwise is leading the charge-or at least the discount bin. 🛒

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2025-10-09 09:19