The new Solana ETF “flywheel hack” (Patreon)

Bitwise are giving Blackrock a run for their money. Blackrock charge 25 bps for the BTC ETF. Well guess What. Bitwise are coming out with 20 bps for their SOL ETF? BTW the BTC ETF is now Blackrock's biggest money spinner.

How can Bitwise even do this?

The ultra-low 0.20% fee isn’t just investor-friendly marketing; it’s a growth catalyst. By staking the underlying SOL, the fund generates a powerful feedback loop: higher yields → larger AUM → bigger 0.20% management collections — plus an additional 6% skim on staking rewards (including MEV-boosted ones). At scale, this structure could yield Bitwise an effective 0.5–1%+ annualized revenue on principal, well above any standard ETF fees. Early fee waivers and reimbursements act as a temporary subsidy to fuel inflows, setting the stage for massive AUM once approval lands.

h.t Sanjay for the heads up