Asset management giant Bitwise has unveiled a Solana staking exchange-traded product (ETP) in Europe under the ticker symbol BSOL. The company is seeking regulatory approval in the United States for its Solana exchange-traded fund (ETF).
The Bitwise Solana Staking ETP is designed to provide institutional and retail investors with a seamless way to gain exposure to Solana (SOL), one of the leading blockchain platforms known for its scalability and speed.
According to a recent announcement, the asset manager has listed its Solana-based crypto-staking ETP on the Frankfurt Stock Exchange’s Xetra trading platform, collaborating with Marinade, a self-custody automation solution.
Bitwise Introduces Minimal Fees
The recently launched ETP also provides stakers with an annual yield of 6.48%, surpassing European rivals such as 21Shares, which delivers a return of 5.49%.
The report noted that BSOL’s management fee is competitively priced at 0.85%, significantly lower than the 2.5% charged by 21Shares.
BSOL, a fully backed ETP issued in Germany, aims to provide top-tier staking rewards, minimal ownership expenses, and enhanced performance compared to other Solana staking offerings available on the market.
A Clear & Transparent Structure
In addition, BSOL offers investors a clear and transparent structure for assessing performance. Listed primarily on Deutsche Börse XETRA, European investors can gain exposure to staked SOL at an affordable, liquid, and transparent price.
Commenting on the latest development, Hunter Horsley, CEO and Co-Founder at Bitwise, said:
“At Bitwise, we continue expanding our product suite to provide investors with access to the opportunities in crypto through high quality vehicles they can trust. Solana is one of the rising star assets in the space, and we’re thrilled to be launching BSOL, the third staking ETP we are launching this year, after the Ethereum and Aptos staking ETPs in February and November, respectively.”
While Bitwise continues to await approval of a Solana ETF, the asset manager has experienced significant growth, recently surpassing $12 billion in total client assets. The introduction of BSOL represents the second offering launched in Europe since Bitwise completed its acquisition of top crypto asset manager ETC Group in August.
A Spot Solana ETF Approval
In line with a Solana ETF, Matthew Sigel predicted that the likelihood of a spot Solana ETF receiving approval in the US would be “overwhelmingly high” by late 2025.
Bitwise also launched its first Solana ETP in Europe, ESOL, in August following the acquisition of ETC Group. BSOL incorporates staking rewards directly, addressing ESOL’s significant shortcomings. At the time, Bitwise’s Assets Under Management (AUM) rose to $4.5 billion.
