- Business
- 21Shares Core Solana ETF (TSOL) is an exchange-traded fund that seeks to track the performance of Solana (SOL), as measured by the CME CF Solana-Dollar Reference Rate – New York Variant, adjusted for expenses and liabilities, while reflecting rewards from staking a portion of its SOL holdings. The fund provides investors with spot exposure to SOL, one of the most active blockchain networks supporting gaming, decentralized finance, identity protection, payments, NFTs, tokenization, and consumer applications; it incorporates staking activities to generate additional rewards by committing assets to support Solana blockchain operations. TSOL trades on the Cboe BZX Exchange with a total expense ratio of 0.21%, offering a regulated, transparent vehicle for U.S. investors to access Solana's ecosystem without directly holding the cryptocurrency.
Launched in November 2025, TSOL debuted with approximately $100 million in assets under management, marking 21Shares' entry as the sixth spot Solana ETF provider alongside competitors including Fidelity, Bitwise, VanEck, and Canary Capital. In December 2025, parent company 21Shares, a specialist in cryptocurrency exchange-traded products and ETFs, was acquired by FalconX, a leading institutional digital asset prime brokerage, to combine 21Shares' asset management expertise with FalconX's infrastructure, structuring, and risk management capabilities for accelerated development of regulated digital asset investment products. This strategic transaction represents FalconX's third major deal in 2025 and underscores the convergence of digital assets and traditional finance.
21Shares, founded in 2018 and headquartered in Zurich, Switzerland, with key U.S. operations in New York, issues a range of physically backed crypto ETPs and ETFs globally, targeting institutional and retail investors seeking exposure to digital assets including Bitcoin, Ethereum, and now Solana. The firm operates across major exchanges like SIX Swiss Exchange and Cboe, with products domiciled in Switzerland and the U.S., focusing on low-cost, accessible crypto investment solutions amid growing demand for blockchain-based applications in DeFi, payments, and tokenized assets.