Bitwise, a prominent crypto asset management firm, has launched a new Solana staking exchange-traded product (ETP) in Europe under the ticker BSOL. This innovative product offers an annual percentage yield (APY) of 6.48%, outshining competing options like 21Shares, which delivers a 5.49% APY. With a management fee of just 0.85%, BSOL positions itself as a cost-effective solution for investors seeking exposure to Solana (SOL) staking rewards.
A partnership with Marinade, a self-custodial automation tool, enabled the December 17 launch. This collaboration ensures BSOL delivers high staking yields while maintaining low ownership costs, providing an attractive alternative to other Solana-focused products.
Bitwise CEO Hunter Horsley described Solana as a “rising star” in the cryptocurrency landscape, expressing enthusiasm for BSOL as the firm’s third staking ETP of the year, following successful launches of Ethereum and Aptos staking products.
A Strategic Move for European InvestorsBSOL builds on the success of ESOL, another Solana-based ETP introduced earlier this year. Unlike ESOL, which tracks SOL’s price movements without staking rewards, BSOL integrates staking features to enhance investor returns. This strategic addition caters to the growing demand for physical staking ETPs among professional investors.
Bitwise’s European expansion comes as it awaits regulatory approval for a spot Solana ETF in the United States. The company recently filed a statutory trust in Delaware—a crucial step toward achieving this goal. Industry experts anticipate that a U.S.-approved Solana ETF could materialize by 2025, further boosting interest in such products.
The Broader VisionBeyond Solana, Bitwise has experienced significant growth in 2024, with total assets under management surpassing $12 billion. The firm remains optimistic about the crypto market’s future, with its leadership forecasting Bitcoin to reach $200,000 by 2025 and potentially exceed gold’s market cap by 2029.
By focusing on cost-efficient and high-performing crypto investment products like BSOL, Bitwise continues to strengthen its presence in the European market while positioning itself for future
