Bitwise Expands into Europe with Solana Staking ETP

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by Giorgi Kostiuk

2 years ago

Bitwise has launched a new product on the European market, offering investors access to Solana staking with a new yield.

Expanding Bitwise's Reach in Europe

The launch of the ETP under the ticker BSOL follows Bitwise's acquisition of the ETC Group, known for its ESOL product managing $24 million in assets. This strategic move allows Bitwise to establish itself in a European market eager for crypto-staking opportunities. Bitwise has chosen Marinade as its staking provider, recognized for its reliability in the Solana ecosystem.

Bridging Staking and ETFs

Bitwise recently registered a Solana ETF entity in Delaware, signaling its ambition to expand. While current US regulations prevent ETFs from including staking rewards, building out the SOL infrastructure could pave the way for future innovations.

Competition in Solana ETFs

Bitwise isn't alone in working on Solana ETF and staking products. VanEck, 21Shares, and Canari Capital are also active in this field. VanEck, for instance, anticipates launching a Solana ETF in the US by 2025.

With its new product, Bitwise aims to strengthen its position in the European market and prepare for potential regulatory changes that could open up new opportunities for staking and ETF innovations.

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