Originally published on: December 18, 2024
Bitwise, a leading crypto index fund manager, has rolled out a new Solana staking exchange-traded product (ETP) in Europe under the stock ticker BSOL. This launch comes as the company eagerly awaits regulatory approval in the United States for its Solana exchange-traded fund (ETF) offering.
The Solana (SOL)-based crypto-staking ETP is now available on the Frankfurt Stock Exchange’s Xetra trading venue in collaboration with Marinade, a self-custodial automation tool. This product boasts an impressive annual percentage yield (APY) of 6.48%, surpassing competitors like 21Shares with its 5.49% APY.
Notably, BSOL features a management fee of just 0.85%, significantly lower than 21Shares’ 2.5%. Bitwise’s move to tap into the European market with this new product highlights its commitment to expanding its offerings beyond borders.
Meanwhile, Bitwise’s pursuit of registration for its Solana ETF in the US signals its ambition to cater to a wider audience and diversify its investment products. With high expectations for a US-approved spot Solana ETF, industry experts anticipate significant growth and market opportunities in the coming years.
In addition to the ETP launch, Bitwise recently acquired nine European-listed crypto ETPs, boosting its assets under management to over $4.5 billion. This strategic move positions Bitwise as a key player in the rapidly evolving crypto investment landscape.
Looking ahead, Bitwise’s investment chief and research head foresee a dynamic market for crypto unicorns going public by 2025, with Bitcoin potentially reaching new milestones in value. As the crypto market continues to evolve, Bitwise remains at the forefront of innovation and investment opportunities.
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