Bitwise Launches Solana Staking Exchange-Traded Products in the European Union Market

Asset manager Bitwise has launched Solana staking exchange-traded products in the European Union market, according to a press release on Dec. 18.

Asset manager Bitwise has launched Solana staking exchange-traded products in the European Union market, a press release revealed on Dec. 18.

The Bitwise Solana staking ETP comes with rewards and lower fees compared to other firms in the European Union.

Solana ETP goes live on XETRA

Bitwise announced the launch of the Solana staking ETP on December 18, 2024. According to the announcement, the product will trade under the ticker BOSL on Deutsche Börse XETRA. This comes as the crypto index fund manager awaits regulatory approval to begin offering its Solana exchange- traded fund (ETF).

Availability on Xetra gives European investors the opportunity to gain exposure to staked SOL, the company said.

“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,” Hunter Horsley, Bitwise co-founder and chief executive officer, said in a statement.

In Nov 2024, Bitwise registered a statutory trust for its proposed spot Solana (SOL) ETF with Delaware. The filling means that Bitwise needs to file for U.S Securities and Exchange Commission (SEC) regulatory approvals.

Bitwise is hoping for successful approval. However, Matthew Sigel, VanEck’s head of digital asset research has noted that the chances of the US approving a spot Solana ETF will be higher in 2025.

Earlier this year in August, Bitwise completed its acquisition of European crypto asset issuer ETC Group. BSOL is the second digital asset product the company has introduced in Europe since. The launch thus saw Bitwise’s listings across the region increase to nine, with its assets under management growing significantly as a result.

Bitwise’s ETP offerings in Europe include the physically backed Bitcoin ETP that went live in 2020, and the Ethereum staking ETP that launched in early 2024.