Cryptocurrency index fund manager Bitwise has launched the Solana Staking Exchange Traded Product (ETP) in Europe with the stock ticker BSOL, pending US registration approval for the Solana Exchange Traded Fund (ETF) product. It is known.
According to a Blockworks report, on December 17, Bitwise launched its Solana (SOL)-based cryptocurrency staking ETP in Europe in collaboration with its management automation tool Marinade.
Bitwise did not respond to Cointelegraph’s request for more details on the partnership by the time of publication.
The new ETP offers stakers an Annual Percentage Yield (APY) of 6.48%, which outperforms European competitors such as 21Shares, which offers 5.49%.
Bitwise introduces low fees to combat existing European players.
BSOL’s management fee is set at a competitive 0.85%, well below 21Shares’ 2.5%.
In November, Bitwise registered a statutory trust in Delaware for its proposed spot Solana ETF, which requires additional regulatory filings with the Securities and Exchange Commission.
Bitwise’s Solana ETF registered in the US. Source: Delaware State Business Division
While Bitwise continues to await approval in the U.S., Matthew Sigel, head of digital asset research at VanEck, said the odds of a spot Solana ETF being approved by the U.S. are “overwhelmingly high” by the end of 2025.
Bitwise’s first Solana ETP in Europe, ESOL, was launched in August as a result of the ETC Group acquisition. By embedding this feature, BSOL aims to fill the huge gap left by ESOL’s lack of support for staking rewards.
Bitwise Optimistic About ETF Approval in 2025
The acquisition adds nine European-listed cryptocurrency ETPs to Bitwise’s portfolio and brings assets under management to over $4.5 billion. ESOL Products currently has $24 million in assets under management.
relevant: Bitwise files for 10 Crypto Index Fund ETFs with SEC
Bitwise head of investments Matt Hougan and head of research Ryan Rasmussen recently predicted that at least five “crypto unicorns” will list in 2025, including stablecoin issuer Circle and cryptocurrency exchange Kraken.
The 5 strongest candidates for an IPO in 2025. Source: Bitwise
The Bitwise duo also predicted that Bitcoin could reach more than $200,000 by the end of 2025 and could surpass gold’s current market capitalization of $18 trillion by 2029.
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