Bitwise has launched a new Solana staking product in Europe, offering investors access to staking with an annual 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.
Bridging Staking and ETFs
The introduction of BSOL comes shortly after Bitwise registered a Solana ETF entity in Delaware. 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.
Competition and Prospects
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 new offering from Bitwise highlights the importance and growing interest in staking opportunities in Europe, opening new prospects for investors amid a changing regulatory landscape.
