Key Notes
- Bitwise BSOL options began trading Nov 11 with strike prices from $16-$26 and expirations through May 2026.
- The fund controls $497.2 million in assets and captures 98% of total Solana ETF market inflows since launching.
- BSOL stakes all holdings for 7.20% net rewards with zero fees on first $1 billion through January 2026.
Options trading on the Bitwise Solana Staking ETF (BSOL) began on Nov. 11, adding derivatives to the spot exchange-traded fund that launched on Oct. 28. The development enables institutional investors to hedge positions and implement complex trading strategies on the Solana
SOL
$157.3
24h volatility:
6.0%
Market cap:
$87.30 B
Vol. 24h:
$5.96 B
exposure vehicle.
Bitwise President Teddy Fusaro and CEO Hunter Horsley confirmed the options launch through X posts on Nov. 11, with Bloomberg terminal screenshots showing active call and put contracts. Coinspeaker confirmed the options are available via Interactive Brokers with strike prices ranging from $16 to $26.
Options chains display multiple expiration dates including Nov. 21, 2025, Dec. 19, 2025, Feb. 20, 2026, and May 15, 2026. The fund reported 22.4 million shares outstanding as of Nov. 10, according to SEC filings.
BSOL holds $497.2 million in assets under management with 22.7 million shares outstanding, making it America’s largest Solana ETF, according to official fund data from Nov. 9. Farside Investors only accounts for $329.7 million. However, the fund has indeed captured approximately 98% of total Solana ETF inflows during its initial trading period, outpacing Grayscale’s GSOL.
Coinspeaker Solana ETF Flow Analysis | Source: Farside
ETF Structure and Launch
The fund launched on Oct. 28 on NYSE Arca with a 0.20% management fee, waived entirely on the first $1 billion in assets through Jan. 28, 2026, according to Bitwise’s official announcement. BSOL stakes 100% of its Solana holdings to generate a 7.20% net staking reward rate, with rewards automatically reinvested into the fund. The Trust operates as a grantor trust for federal tax purposes, meaning income and expenses flow through to shareholders.
Authorized Participants create or redeem shares in blocks of 10,000 units at net asset value, either through in-kind Solana transfers or cash settlements. Grayscale’s GSOL represents the primary competition in the US Solana ETF market, though Solana ETF inflows reached $150 million across all products by Oct. 31.
The rapid progression from ETF to options contrasts with previous crypto ETF timelines. Ethereum
ETH
$3 450
24h volatility:
3.3%
Market cap:
$416.57 B
Vol. 24h:
$34.60 B
ETF options launched on Oct. 23, 2025, approximately 15 months after the spot ETF debut in July 2024.
Market Activity
The Solana ecosystem has experienced increased activity alongside institutional product launches. Solana DEX volumes surpassed $5 billion in early November, with network metrics showing sustained growth in transaction volume and user activity.
Institutional adoption of Solana continues expanding through regulated products. The options launch provides portfolio managers with risk management tools typically required for allocation decisions. Delaware Trust Company serves as trustee for the fund, which was originally organized on Nov. 20, 2024, as Bitwise Solana ETF before adopting its current staking structure. Coinbase Custody Trust Co. serves as digital asset custodian.
Bitwise manages multiple cryptocurrency ETPs including Bitcoin and Ethereum products recently approved for retail investors in the United Kingdom. The firm’s crypto fund lineup spans major digital assets with both spot and staking capabilities where applicable.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
Zoran Spirkovski on X
Source: https://www.coinspeaker.com/bitwise-solana-etf-options-trading-launch/
