Bitwise has launched a new Solana staking ETP in Europe, providing investors access to staking with 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, recognized for its focus on decentralization and efficiency in the Solana ecosystem. 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. Some analysts believe that under a Paul Atkins-led SEC, there’s potential for changes to securities laws, allowing ETFs to include staking rewards.
Competition in the Solana ETF Market
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.
Bitwise's Solana staking ETP opens new opportunities for investors in Europe and strengthens the company's position in the international market.
