A large bank has reportedly enabled clients to borrow up to 25% of the value of their Bitwise Solana Staking ETF (BSOL) holdings, according to a disclosure shared on the fund’s official site. No official announcements or detailed specifics have emerged regarding this borrowing facility, and no bank has been publicly confirmed as linked to the program.
What BSOL actually is, and why it matters
BSOL launched on October 28, 2025, as the first US spot Solana ETP offering 100% direct exposure to SOL holdings. Bitwise Asset Management designed the fund with an in-house staking strategy, executed through Bitwise Onchain Solutions and powered by Helius, targeting roughly 7% in staking rewards.
Those rewards don’t get distributed to shareholders as dividends. Instead, they’re reinvested to compound the fund’s net asset value over time.
The fund’s fee structure is notably lean. Bitwise charges a 0.20% sponsor fee, and even that gets waived on the first $1B in assets under management for the initial three months.
BSOL surpassed $500M in AUM by November 21, 2025, just three weeks after launch. More recently, the fund has reached approximately $586M in assets under management, with daily trading volume registering in the tens of millions of shares.
The 25% LTV facility, explained
Loan-to-value ratios are the bedrock of collateralized lending. If you hold $100K worth of BSOL and a bank offers 25% LTV, you can borrow up to $25K against those holdings without selling them. The asset stays in your account as collateral.
A 25% LTV is conservative by traditional finance standards. Blue-chip equities typically qualify for 50-70% LTV at major brokerages through margin accounts. Real estate mortgages routinely hit 80% or higher.
