Quarterly ResultMay 6, 2026, 05:07 PM
Bitwise Solana Staking ETF Q1 Net Assets Down to $570.3M; NAV $11.07
AI Summary
The Bitwise Solana Staking ETF reported a significant decrease in net assets, falling to $570.3 million as of March 31, 2026, from $641.3 million at the end of 2025. The Principal Market NAV per Share also declined to $11.07 from $16.37. The Trust recorded a net decrease in net assets from operations of $238.1 million for the quarter, primarily driven by a $205.6 million net change in unrealized depreciation on its Solana investment. The Trust also earned $9.9 million in staking rewards.
Key Highlights
- Net Assets decreased to $570.3 million as of March 31, 2026, from $641.3 million on December 31, 2025.
- Principal Market NAV per Share fell to $11.07 as of March 31, 2026, from $16.37 on December 31, 2025.
- Net decrease in net assets from operations was $238.1 million for the three months ended March 31, 2026.
- Net change in unrealized depreciation on investment in Solana was $205.6 million.
- Staking Rewards generated $9.9 million in investment income.
- Net realized loss on investment in Solana sold for redemptions was $42.0 million.
- The Trust issued 16.3 million shares and redeemed 4.0 million shares, a net increase of 12.3 million shares.
- The Trust is an "emerging growth company" but opted out of the extended transition period for new accounting standards.