21Shares Solana ETF

21Shares Solana ETF reported a significant decrease in net assets and NAV per share for the six months ended June 30, 2026. Net assets fell to $2.85 million from $5.74 million, with NAV per share dropping from $12.47 to $7.12. This decline was primarily driven by a substantial net change in unrealized depreciation on its Solana investments. The Trust also announced a planned change in its pricing benchmark provider from CME CF Solana-Dollar Reference Rate to FTSE International Limited, effective August 2026, which is not expected to materially impact its valuation.

21Shares US LLC announced a voluntary waiver of the sponsor fee for its 21Shares Solana ETF (TSOL), reducing it from 0.21% to 0.00% for a period of one year. This waiver is effective from July 28, 2026, to July 27, 2027. The move is intended to lower barriers for both retail and institutional investors seeking exchange-traded exposure to Solana, while the ETF continues to offer on-chain staking rewards.

21Shares US LLC, the Sponsor of the 21Shares Solana ETF, has terminated its licensing agreement with CF Benchmarks Ltd., effective August 31, 2026. This agreement provided the CME CF Solana-Dollar Reference Rate used for valuing the Trust's shares and calculating its net asset value. The Sponsor plans to enter a new licensing agreement with FTSE International Limited around August 24, 2026, to provide similar index data services as part of a broader transition.

The 21Shares Solana ETF reported a significant decline in its net assets and net asset value per share for the three months ended March 31, 2026. Net assets decreased by nearly 50% to $2.88 million, with NAV per share falling to $7.99 from $12.47. The Trust, operating as an "emerging growth company," generated $23,355 in staking rewards but experienced a net decrease in net assets from operations of $1.31 million.