Best Solana ETFs in 2025: Top Picks Ranked by Fees, Liquidity & Tracking Error

Solana exposure via exchange-traded funds is still evolving. In Europe and other markets, “Solana ETFs” are typically structured as ETPs/ETNs backed by SOL held in custody. As of late 2024, no U.S.-listed spot Solana ETF had been approved; issuers like VanEck and 21Shares filed proposals, but they remained pending at the time of writing (see VanEck filing coverage: https://www.bloomberg.com/news/articles/2024-06-27/vaneck-files-for-first-us-solana-etf).

Below are the top Solana exchange-traded products available to many non-U.S. investors in 2025, ranked by a blend of total fees, on-exchange liquidity, and tracking quality.

How we ranked

• Fees: Total expense ratio (TER) and any embedded costs (e.g., staking reward sharing).
• Liquidity: Listings on major venues (Xetra, SIX), indicative AUM, and market-maker support.
• Tracking quality: Structure (physically backed), collateralization, and whether staking alters tracking versus a pure spot index.

1. CoinShares Physical Staked Solana (ETP)

• Why it stands out: Among the most cost-efficient structures because staking rewards are used to offset fees; physically backed with staking yield credited to holders via increased coin entitlement.
• Key details (issuer data):
  • Structure: Physically backed ETP with staking
  • Fees: Management fee listed as 0.00% with a portion of staking rewards retained by the issuer; net effect is typically lower headline cost to investors than non-staked peers
  • Listings: Major European exchanges (check issuer site for current venues)
• Best for: Fee-sensitive buyers who value staking yield within a regulated ETP wrapper.
• Sources: CoinShares product family page (ETPs): https://coinshares.com/products; Product overview (Physical Staked range): https://coinshares.com/etps

2. WisdomTree Solana ETP (ticker often SOLW in Europe)

• Why it stands out: One of the lower headline TERs among large issuers, with broad distribution and recognisable platform infrastructure.
• Key details (issuer data):
  • Structure: Physically backed ETP
  • Fees: TER 0.95%
  • Listings: Commonly on SIX Swiss Exchange and Deutsche Börse Xetra (check current listings)
• Best for: Investors seeking a low-fee, straightforward, physically backed Solana ETP from a major issuer.
• Sources: WisdomTree Solana ETP page: https://www.wisdomtree.eu/en-ch/etfs/crypto/solana

3. VanEck Solana ETN (VSOL)

• Why it stands out: Strong brand, solid European exchange presence, and typically robust market-maker support on Xetra/SIX.
• Key details (issuer data):
  • Structure: Physically backed ETN
  • Fees: TER 1.50%
  • Listings: Commonly on Deutsche Börse Xetra and SIX Swiss Exchange (verify current venues)
• Best for: Buyers prioritizing issuer reputation and deep exchange liquidity.
• Sources: VanEck product page (VSOL): https://www.vaneck.com/eu/en/etps/digital-assets/ (navigate to Solana/VSOL)

4. ETC Group Physical Solana (ETP)

• Why it stands out: Broad European listings and a simple, physically backed structure; competitive liquidity on Xetra.
• Key details (issuer data):
  • Structure: Physically backed ETP
  • Fees: TER typically around 1.95% for altcoin products from ETC Group
  • Listings: Often on Xetra and other EU venues
• Best for: Investors who want straightforward physical exposure via a well-known European crypto ETP issuer.
• Sources: ETC Group products: https://etc-group.com/products/

5. 21Shares Solana Staking ETP (ASOL)

• Why it stands out: One of the earliest Solana ETPs with staking; large crypto ETP specialist with wide distribution across Europe.
• Key details (issuer data):
  • Structure: Physically backed ETP with staking
  • Fees: TER 2.50% (staking rewards are used to enhance coin entitlement, which can offset the fee)
  • Listings: SIX Swiss Exchange and other European markets
• Best for: Long-term holders who want staking yield embedded even with a higher headline TER.
• Sources: 21Shares ASOL product page: https://21shares.com/product/asol

Honorable mentions and pending developments

• Additional Solana ETPs: Smaller issuers periodically launch SOL ETPs; check Xetra and SIX listings for newcomers and changing fees.
  • Deutsche Börse Xetra (product search): https://www.deutsche-boerse-cash-market.com
  • SIX Swiss Exchange (product search): https://www.six-group.com/en/products-services/the-swiss-stock-exchange.html
• U.S. spot Solana ETF status: VanEck and 21Shares filed for U.S.-listed spot Solana ETFs in 2024; these remained unapproved as of late 2024. Keep an eye on issuer updates and SEC filings.
  • VanEck filing news (Bloomberg): https://www.bloomberg.com/news/articles/2024-06-27/vaneck-files-for-first-us-solana-etf
  • 21Shares filing news (CoinDesk coverage): https://www.coindesk.com/markets/2024/06/28/21shares-files-for-spot-solana-etf-in-the-us/

What “tracking error” means for Solana ETPs

• Physically backed: These products hold SOL in custody and aim to mirror spot performance.
• With staking: Products that stake SOL can outperform a pure price index because they accrue staking rewards; this creates a positive “tracking difference” versus a non-staked benchmark even as the ETP still closely tracks the underlying asset holdings.
• Practical takeaway: Compare each product’s benchmark and whether returns include staking yield when evaluating tracking.

How to choose the right Solana ETF/ETP

• Fee vs. yield: Low TER matters, but staking-enabled products can offset higher fees via rewards. Check the net effect on tracking difference in the fact sheet.
• Liquidity: Prefer listings on major exchanges (Xetra, SIX) with tight bid-ask spreads and healthy average daily volume.
• Custody and structure: Look for 100% physically backed exposure with transparent custodians and audited processes.
• Tax and account fit: Staking distributions and ETP/ETN structures can have different tax treatments by jurisdiction. Consult local guidance.

Key risks

• Volatility: SOL is highly volatile; exchange-traded wrappers do not reduce asset risk.
• Protocol and validator risk: Staked products carry additional slashing/operational risks at the validator level.
• Regulatory changes: Listings, availability, and structures can change quickly as regulations evolve.
• Tracking nuance: Staked ETPs can deviate from a non-staked price index—understand the benchmark you compare against.

Bottom line If you prioritize all-in cost, CoinShares’ staked approach and WisdomTree’s low TER are strong starting points. For broader brand recognition and typically deep European liquidity, VanEck’s VSOL is a solid pick. Yield-focused, long-term holders may prefer staked options from CoinShares or 21Shares. Always verify current fees, listings, and fact sheets before buying; issuer pages are the definitive source for up-to-date product terms.