Bitwise Launches Solana Staking ETP in Europe. Wen U.S.?

Asset management firm Bitwise has launched its Solana staking exchange-traded product (ETP) in Europe. This product allows investors to earn staking rewards while gaining exposure to SOL’s price movements. The latest debut comes amid Bitwise’s continuous efforts to acquire an endorsement in the United States financial market.

Bitwise Debuts Solana ETP

Bitwise’s new ETP will trade under the ticker BSOL and allow investors to earn 0.85%. Deutsche Börse Xetra, a German stock exchange, will house BSOL, enabling European investors to join the bandwagon.

Recall that Bitwise expanded its business into Europe in August 2024 by acquiring ETC Group, a European firm valued at $1 billion. The new subsidiary has since been renamed Bitwise Europe. Last month, the asset manager launched its Aptos Staking ETP for European investors using the ticker APTB. Bitwise Europe debuted the Ethereum Staking ETP earlier this year before its parent company acquired it.

Bitwise’s decision to double down on launching ETPs in Europe shows its confidence in the continent’s regulatory framework governing cryptocurrency products. Investors wanting to gain exposure to SOL and its staking capabilities within the four walls of a reputable financial institution like Bitwise may find this new product attractive.

Wen U.S.?

While European investors can now benefit from the new offering, those in the United States are uncertain when the Securities and Exchange Commission (SEC) will endorse similar products. A cohort of asset managers has filed for Solana ETFs in the U.S., aiming to bring these investment opportunities to the market. However, no action indicating approval has been taken at the time of writing.

Additionally, the U.S. government has voiced disapproval of crypto staking, penalizing crypto exchanges that offered the feature to local investors.

On the bright side, market experts are optimistic that the recent change in the country’s administration will introduce a positive shift towards crypto adoption, benefiting Solana ETPs and other similar funds in the pipeline.