# 21Shares Solana ETF 21Shares Solana ETF is an Asset Manager based in Zurich, Switzerland. ## Overview - **Organization type:** Asset Manager - **Headquarters:** Zurich, Switzerland - **Region:** Europe - **Address:** Zurich, Switzerland - **Founded:** 2018 - **Assets under management:** $11.3B - **Website:** 21shares.com ## Regulatory record - **Reports private funds:** No ## About Founded in 2018 by Hany Rashwan and Ophelia Snyder, 21Shares emerged as a specialized issuer of cryptocurrency exchange-traded products (ETPs) domiciled in Switzerland. The firm operates under the regulated framework of the Swiss SIX Exchange, giving institutional investors in Europe a compliant path to digital-asset exposure without direct custody. Rashwan's prior experience includes co-founding a fintech unicorn, while Snyder brought quantitative structuring expertise from roles at Lombard Odier and Goldman Sachs. 21Shares issues ETPs for over 40 different crypto assets, spanning blue-chip tokens like Bitcoin and Ethereum, smart-contract platforms including Solana and Avalanche, and thematic baskets such as DeFi and metaverse tokens. The core architecture enables institutional and retail investors to gain exposure through traditional brokerage accounts. The US expansion, anchored by the 21Shares Solana ETF filing, pairs the firm's European ETP structuring experience with a physically backed, spot-crypto ETF structure tailored for SEC registration. The Solana ETF specifically targets the high-throughput, proof-of-history blockchain, requiring a distinct custody and staking workflow compared to Bitcoin trusts. The firm employs a dedicated research division that publishes monthly reports on crypto asset flows, institutional adoption metrics, and staking yields — making its market commentary a fixture in institutional crypto discussions. In July 2024, 21Shares filed an updated S-1 registration statement with the SEC for the 21Shares Core Solana ETF, signaling an ongoing push toward listing as the US regulatory stance on proof-of-stake assets evolves. The firm's product shelf spans exchanges across Switzerland, Germany, France, the Netherlands, Sweden, and Australia. 21Shares operates a product-as-distribution model that differs materially from venture-style crypto firms and asset-light hedge funds. Rather than trading actively, the firm aggregates institutional capital through listed securities, earning fees on transparent, exchange-traded vehicles. This structure aligns it more closely with State Street's ETF dominance in traditional markets than with a standard crypto fund. The transition from European ETP issuer to US spot-ETF filer represents a structural bet that regulated, passive exposure, not active management, will capture the next $100 billion in institutional crypto flows. ## Sectors - Crypto / Digital Assets ## Offices - New York, NY, United States ## People - Hany Rashwan — CEO - Ophelia Snyder — President ## Questions ### How does the 21Shares Solana ETF differ from a standard spot Bitcoin ETF? The Solana ETF holds SOL tokens that can be staked to earn protocol-level rewards, creating a yield component absent from Bitcoin ETFs. Custodians must manage staking infrastructure — validators, slashing risk, and lock-up periods — which adds operational complexity. The SEC's treatment of staking in a spot ETF wrapper remains a key regulatory question for approval. ### Who are the service providers backing the 21Shares Solana ETF filing? The S-1 filing designates Coinbase Custody Trust Company as the custodian for the trust's SOL holdings. Coinbase also serves as the prime execution agent and staking infrastructure provider, handling validator operations and reward distribution for staked Solana. These arrangements are disclosed in the public registration statement filed with the SEC. ### Does 21Shares already issue a Solana product in other markets? Yes. 21Shares launched a physically backed Solana Staking ETP on the SIX Swiss Exchange in 2021, trading under the ticker ASOL. The European product offers institutional investors in Switzerland and broader Europe exposure to SOL with staking rewards reinvested. The US filing extends this structure into an SEC-regulated format. ### What is 21Shares' relationship with Cathie Wood and ARK Invest? Ark Invest partnered with 21Shares on the ARK 21Shares Bitcoin ETF which launched in January 2024 and later became the ARK 21Shares Ethereum ETF. However, Ark is not a co-sponsor on the Solana ETF filing — 21Shares filed the Solana ETF independently without an Ark partnership. ### What regulatory jurisdiction governs the 21Shares Solana ETF entity? The filing entity is 21Shares US LLC, the firm's American subsidiary. The ETF trust itself is a Delaware statutory trust. As a US-registered product, it faces SEC oversight under the Securities Act of 1933 and the Investment Company Act of 1940. Prior 21Shares products are primarily domiciled in Switzerland and governed by Swiss financial market regulations. ## Related profiles - [Farlong Holding](https://altss.com/profile/farlong-holding-corp) - [Franklin Ethereum Trust](https://altss.com/profile/franklin-ethereum-trust) --- Last updated: 2026-07-08T23:55:46.774Z Canonical page: https://altss.com/profile/21shares-solana-etf Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology