BSOL Options Trading Launches Two Weeks After ETF Debut

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 $157.8 24h volatility: 5.8% Market cap: $87.52 B Vol. 24h: $5.98 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.

Milestone today —

Options are now live and trading on $BSOL, the Bitwise Solana Staking ETF.

Bridges are opening to investment professionals. https://t.co/ArkFXFr9ED

— Hunter Horsley (@HHorsley) November 11, 2025

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.

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 $3 456 24h volatility: 2.8% Market cap: $417.97 B Vol. 24h: $35.24 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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