Bitwise Asset Administration has launched the Bitwise Solana Staking ETP (BSOL) on Deutsche Börse Xetra, offering institutional and retail traders with simplified entry to Solana (SOL) staking rewards.
The brand new product is designed to ship superior returns and transparency, strengthening Bitwise's place within the European crypto funding market.
The BSOL ETP, which tracks the month-to-month Compass Solana Whole Return Index, supplies staked publicity to Solana (SOL) with a complete expense ratio of 0.85% every year.
The BSOL ETP is absolutely backed by staked SOL and supplies traders with clear efficiency benchmarks. Utilizing the Compass Solana Whole Return Month-to-month Index ensures a transparent analysis framework for monitoring returns. The first itemizing of the product on Xetra improves liquidity and accessibility for European traders.
Bitwise highlighted that the product's revolutionary staking mechanism units it aside by maximizing rewards whereas minimizing prices. It’s out there for buying and selling in Euros and US {Dollars}.
Growth of staking options
The launch of BSOL is Bitwise's third staking-focused ETP this 12 months, following the introduction of Ethereum and Aptos staking merchandise in February and November.
Hunter Horsley, CEO of Bitwise, referred to as Solana a “rising star” within the blockchain area, citing its scalability, pace and rising adoption.
He mentioned:
“With BSOL, we’re excited to supply traders a safe and clear approach to entry staking rewards on Solana. This launch displays our dedication to providing high-quality crypto options to a variety of traders.
Solana, a proof-of-stake blockchain identified for processing as much as 65,000 transactions per second, has rapidly turn out to be a number one platform for sensible contracts and NFTs. Its native token, SOL, ranks among the many high cryptocurrencies when it comes to market capitalization.
Development within the European market
The launch of BSOL follows Bitwise's August acquisition of ETC Group, a number one European crypto asset supervisor, and its continued growth within the area.
Bitwise has already established itself as a key participant with merchandise such because the Bitwise Core Bitcoin ETP and the Ethereum Staking ETP. The agency lately surpassed $12 billion in whole belongings beneath administration, reflecting important progress in 2024.
All Bitwise European ETPs are permitted by German regulator BaFin and use chilly storage for added safety. Within the coming months, the corporate plans to finish the rebranding of its European portfolio whereas introducing extra institutional-grade crypto merchandise.
Bitwise continues to develop its vary of crypto options to satisfy rising demand from institutional and retail purchasers, aiming to place itself on the forefront of crypto asset innovation.
