Bitwise has introduced a new product for Solana staking in Europe, offering investors a way to earn an annualized yield of 6.48%.
Expanding Bitwise's Reach in Europe
The launch of the BSOL ETP comes after Bitwise's acquisition of the London-based ETC Group. This strategic move allows Bitwise to establish a foothold in a European market eager for crypto-staking opportunities. Marinade has been selected as the staking provider to ensure a secure and reliable staking experience.
Bridging Staking and ETFs
The introduction of BSOL follows Bitwise's registration of a Solana ETF entity in Delaware. Current U.S. regulations prevent ETFs from including staking rewards, and Bitwise's efforts could pave the way for future innovations. Analysts suggest changes in U.S. securities laws might allow ETFs to include staking rewards.
Competition in Solana Staking and ETFs
Bitwise is not alone in the pursuit of Solana-based staking and ETF products. VanEck, 21Shares, and Canari Capital are also actively working on similar offerings. VanEck, for example, plans to launch a Solana ETF in the U.S. by 2025.
Bitwise demonstrates a strategic approach by launching a Solana staking ETP in Europe and gearing up for potential shifts in the ETF space in the U.S.
