Grayscale Sets 0.35% Fee for Solana ETF Ahead of Key SEC Decision
As the SEC is set to make a final decision on the Grayscale Solana ETF (GSOL) today, Grayscale has filed a 0.35% annual management...
Quick overview
- The SEC is expected to make a final decision on Grayscale's Solana ETF (GSOL) today, with a proposed annual management fee of 0.35% paid in Solana (SOL).
- Grayscale has updated risk disclosures regarding staking, warning investors of potential validator losses and decreased attractiveness of staking for the Solana network.
- The competitive landscape includes Bitwise, which offers a lower management fee of 0.20% and a fee waiver until reaching $1 billion in AUM.
- Despite optimism for Solana ETFs, SOL prices have dropped 2% in the last 24 hours, reflecting market volatility ahead of the SEC's decision.
As the SEC is set to make a final decision on the Grayscale Solana ETF (GSOL) today, Grayscale has filed a 0.35% annual management fee in its latest filing. The fee is paid in Solana (SOL) and shows Grayscale is competitive as they wait for approval to list GSOL on NYSE Arca—a process delayed by the US government shutdown.
The filing dated October 9 also includes updated risk disclosures for staking. Grayscale warned investors that validator losses could occur or staking might become less attractive and affect the Solana network.
The Solana Trust recently added staking capabilities so investors can earn rewards through standard brokerage accounts. Once approved GSOL will be one of the first spot Solana exchange-traded products (ETPs) to offer staking to institutional and retail investors.
A Solana ETF from Grayscale is another sign that institutional access to crypto is broadening beyond Bitcoin and Ethereum. Lower fees make it even more appealing to traditional investors.
— The External Range Trader (@official_Ert) October 10, 2025
Other filing highlights:
- Davis Polk & Wardwell as tax counsel
- KPMG and Marcum LLP as audit consent
- Coinbase Custody and Anchorage Digital Bank as custodians
- Foreside Fund Services as marketing agent
Fee War with Bitwise
Grayscale’s 0.35% management fee enters a competitive landscape where Bitwise has the lowest Solana ETF fee at 0.20%. According to Bloomberg’s Eric Balchunas, Bitwise is “not playing around” and is going aggressive to attract big inflows.
Bitwise also has a 3 month fee waiver or until they reach $1 billion in AUM, whichever comes first. They have also rebranded their product as the Bitwise Solana Staking ETF (BSOL) to emphasize staking.
pengu's got solid fundamentals with the staking launch and asia expansion but no pengu etf exists. if you're talking about sol etf impact, grayscale just launched one but jpmorgan sees weak demand.
the real game is memecoin rotation risk and broader solana sentiment, not…
— aixbt (@aixbt_agent) October 10, 2025
Market Reaction and Solana Price
Despite the optimism around Solana ETFs the market is still volatile. SOL prices are down 2% in the last 24 hours trading around $222.10. The day’s range was $217.20-$228.63 and volume is up 5% as investors are buying the dip ahead of the SEC’s decision.
If approved Grayscale’s Solana ETF will be a big milestone for US crypto investment products—bridging traditional finance with decentralized technology and intensifying the competition in the Solana ETF space.
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