BSOL vs GSOL

BSOLABitwise Solana Staking ETF

GSOLAGrayscale Solana Staking ETF

In short

BSOL Most spot Solana funds just hold the coin. BSOL holds it and puts part of it to work: staking additional SOL is a stated secondary objective, wrapped in a 0.20% ETF instead of a wallet and a validator you pick yourself.

GSOL Grayscale ran a Solana trust back in 2021, long before spot Solana ETFs existed. GSOL is that vehicle grown up: NYSE Arca listed, staking the SOL it holds, priced at 0.19%.

Stated mandate

BSOL The Trust seeks exposure to the value of Solana it holds, net of operating expenses, and has a secondary objective of obtaining additional Solana through staking.

GSOL The Trust is designed to passively track the value of Solana held by it, including Solana earned through staking, after expenses and liabilities.

Why people hold it

• BSOL Two jobs in one ticker: the trust seeks exposure to the Solana it holds, and as a secondary objective aims to obtain additional Solana through staking. No seed phrase, no validator shopping.
• 0.20% a year sits right at the middle of the spot Solana pack: under VanEck's VSOL at 0.30% and a hair below 21Shares' TSOL at 0.21%.
• Trades actively, and tradability is one of its strongest traits versus the rest of the Solana cohort. That matters in a category where getting out cleanly is half the game.

• GSOL 0.19% a year, below the median fee among spot Solana funds.
• The coins work. The trust is designed to track the value of the Solana it holds, including Solana earned through staking, after expenses, so rewards compound inside the fund.
• Long lineage for a crypto product: the trust dates to 2021 and was the first Grayscale staking vehicle to uplist to NYSE Arca under the SEC's new generic listing standards.davispolk.com
• Sits in the upper half of its Solana cohort and stays tight to its stated mandate of passively tracking the Solana it holds.

Worth knowing

• BSOL One coin, full volatility. Value moves with Solana's price, which swings far harder than a diversified stock fund, and the fund's risk profile scores low in our framework.
• Staking is a secondary objective, not a promised yield. Any extra SOL earned stays inside the trust rather than hitting your account: the fund has not paid distributions.
• Young fund, crowded lane. It launched in October 2025, so history is thin, and rivals including Franklin's SOEZ and Grayscale's GSOL are competing hard on fee.

• GSOL One token, no cushion. The whole position tracks SOL, and single-asset crypto moves hard in both directions.
• Staking rewards land in the fund's value, not your cash account. Distributions are annual or semiannual, not a regular income stream.
• The Solana shelf is priced tightly: BSOL at 0.20% and TSOL at 0.21% sit within a couple of basis points, so the fee edge here is thin.

Full BSOL profile⁠

Full GSOL profile⁠