Crypto asset manager Bitwise has introduced a new Solana staking unit in Europe, trading under the ticker BSOL. The product offers investors a way to engage in Solana staking with 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.
Strategy and Partnerships
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.
Bitwise’s new BSOL product is set to strengthen the company's position in the European crypto investment market, especially as interest in Solana and staking grows.
