21Shares, an issuer of cryptocurrency exchange-traded products (ETPs), has announced the launch of the 21Shares Solana (SOL) ETF, ticker TSOL, on the Chicago Board Options Exchange (CBOE). This new offering provides U.S. investors with transparent exposure to the Solana (SOL) blockchain, a network active in decentralized finance, gaming, and identity protection.
A key feature of the TSOL ETF is its inclusion of staking. This mechanism allows the fund to earn rewards by supporting the network’s security and operations, potentially enhancing returns. The fund carries a Total Expense Ratio (TER) of 0.21%.
21Shares’ Established Market Leadership
Russell Barlow, CEO of 21Shares, emphasized the company’s global leadership in the crypto ETP space since 2018. He highlighted their specific expertise in managing the world’s largest spot Solana ETP for the European market, which was launched in 2021.
Barlow stated, "Having launched our Solana ETP for European investors in 2021, 21Shares manages the largest spot Solana ETP in the world with over $1bn in AUM as of November 14, 2025. We are thrilled to have the opportunity to leverage our nearly eight-year track-record of developing, launching and managing crypto ETPs to bring TSOL to the U.S. market."
TSOL represents 21Shares' third major spot crypto ETP launch in the U.S. This follows the 21Shares Ethereum ETF (TETH), which was launched in July 2024, and the ARK 21Shares Bitcoin ETF (ARKB), a partnership with Ark Invest introduced in January 2024. The ARKB ETF has seen significant investor interest, currently holding over $8 billion in assets under management (AUM).
Federico Brokate, Global Head of Business Development at 21Shares, commented on the new ETF, saying, "TSOL provides U.S. investors with the opportunity to diversify their crypto exposure through one of the world’s most powerful blockchains and marks the latest addition to 21Shares’ growing lineup of spot crypto ETPs for U.S. investors. Solana’s efficiency and its large array of real-world use cases make it a potentially interesting investment for retail and institutional investors alike."
Brokate added, "Over the past year, we’ve seen an impressive wave of adoption of crypto ETPs in the U.S., particularly as regulatory and legislative tailwinds fuel growth, innovation and excitement throughout the entire crypto ecosystem."
Investor Considerations for the TSOL ETF
The TSOL ETF is designed to be an accessible, effective, and transparent method for both institutional and retail U.S. investors to integrate Solana exposure into their investment portfolios. The Solana ecosystem has demonstrated significant growth, with its developer community, which supports decentralized infrastructure and AI-driven tools, expanding by 83% in 2024.
However, the fund's official release includes important disclosures. The 21Shares Solana ETF is not registered under the Investment Company Act of 1940 (the “40 Act”) and therefore is not subject to the same regulatory oversight and investor protections as traditional mutual funds and ETFs. Investors should be aware that TSOL is not a direct investment in the cryptocurrency Solana (SOL) and is susceptible to risk and increased volatility. Individuals who cannot afford to lose their entire investment should refrain from investing in the underlying Solana assets.
Brokate believes that the adoption of crypto ETPs in the United States is still in its early stages. He anticipates continued improvement in interest in this asset class as traditional finance players gain more awareness and acceptance of blockchain technology as a potential foundation for future capital markets.
In related developments, 21Shares recently partnered with FalconX, a crypto prime brokerage. This collaboration is expected to broaden 21Shares' global reach and bolster its ongoing market expansion efforts across North America, Europe, and Latin America.
The introduction of TSOL signifies another step in 21Shares' strategy to expand its U.S. digital asset product offerings. The ETF provides actively managed, staking-enabled exposure to Solana's expanding network. While these new products involve risks that investors must carefully consider, they align with the broader trend of increasing integration between crypto assets and traditional financial markets.