Bitwise Launches Solana Staking ETP in Europe: What to Know

 

Crypto asset manager Bitwise introduced a Solana staking ETP in Europe, trading under the ticker BSOL, according to Blockworks. The product offers investors a way to access Solana staking while earning an annualized yield of 6.48%. 

Expanding Bitwise's Reach in Europe

The launch of BSOL follows Bitwise’s acquisition of the ETC Group, a London-based firm known for its ESOL product managing $24 million in assets. This strategic move allows Bitwise to establish a foothold in Europe, catering to a market eager for crypto-staking opportunities.

Bitwise has chosen Marinade as its staking provider to deliver a reliable and secure staking experience. Marinade is a recognized player in the Solana ecosystem, known for its focus on decentralization and efficiency.

Solana staking rewards typically offer an annual yield of approximately 8%, but Bitwise has opted for a slightly lower rate of 6.48% to maintain operational and security standards

Bridging Staking and ETFs

The introduction of BSOL comes shortly after Bitwise registered a Solana ETF entity in Delaware, signaling its ambition to expand its offerings. While current U.S. regulations prevent ETFs from including staking rewards, Bitwise’s move to build out its SOL staking infrastructure could pave the way for future innovations.

Some analysts believe that under a Paul Atkins-led SEC, there’s potential for changes to securities laws, allowing ETFs to include staking rewards. If that happens, Bitwise would already have the necessary infrastructure in place to capitalize on this shift.

Bitwise isn’t alone in targeting Solana ETFs and staking products. VanEck, 21Shares, and Canari Capital are all actively working on similar offerings. VanEck, for example, anticipates launching a Solana ETF in the U.S. by 2025.