Crypto asset manager Bitwise introduced the BSOL product for Solana staking in Europe, offering investors a 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, known for its focus on decentralization and efficiency.
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. Current U.S. regulations prevent ETFs from including staking rewards, but Bitwise’s move to build out its SOL staking infrastructure could pave the way for future innovations.
Competitors and Market Outlook
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.
The launch of BSOL by Bitwise highlights its ambition to take a leading position in the Solana-based staking and ETF market, despite existing regulatory hurdles in the U.S.
