Spot Solana ETF Fee Showdown: Canary’s Sixth Revision Proposes 0.5% Fee with No Staking Share — Bitwise at 0.20% Minus 6% Staking Cut

Spot Solana ETF issuer Canary filed a sixth revision to its prospectus on October 10, proposing a 0.5% fee and explicitly indicating no sharing of staking rewards. The formal submission updates the fund’s expense arrangement and clarifies the issuer’s policy on validator-derived yield, as disclosed in regulatory filings.

By contrast, competitor Bitwise lists a 0.20% fee for its Solana ETF but applies a 6% staking reward deduction, reducing gross staking income before distribution. These differing fee and reward frameworks materially affect the funds’ net-of-fees yield and should be evaluated in the context of each ETF’s prospectus and historical operational disclosures.

Institutional and retail investors assessing Spot Solana ETF options should weigh the trade-off between headline expense ratios and staking reward treatments, focusing on the impact to long-term total return and expense-adjusted performance.