BSOL vs TSOL

BSOLABitwise Solana Staking ETF

TSOLB21Shares Solana 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.

TSOL Spot Solana in a grantor trust, with part of the stack staked and the rewards paid out as cash rather than kept inside the fund. The SOL is split across three custodians instead of parked with one.

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.

TSOL The Trust seeks to provide exposure to Solana held by the Trust, net of operating expenses, and may seek additional Solana through staking.

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.

• TSOL Staking rewards are passed through as quarterly cash distributions, so the rewards show up in your account rather than staying inside the trust.stocktitan.net
• The 0.21% sponsor fee matches the going rate for spot Solana funds, and 21Shares cut it to 0.00% for a defined window running through July 27, 2027.globenewswire.com
• Custody is split across Anchorage Digital Bank, BitGo and Coinbase Custody, so no single vault holds the whole position.21shares.com21shares.com 2
• Plain wrapper: it holds actual SOL, not futures or swaps, and hands the private-key problem to regulated custodians.21shares.com

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.

• TSOL Small and thinly traded next to Solana funds like BSOL and GSOL, which typically means wider spreads and more care needed on limit orders.
• The fee waiver has an expiration date; the 0.21% sponsor fee resumes after July 27, 2027.globenewswire.com
• A grantor trust, not a 1940 Act fund, so the usual fund-law protections don't apply. It launched in late 2025, and SOL itself moves violently.21shares.com

Full BSOL profile⁠

Full TSOL profile⁠