Bitwise launches Solana Staking ETP in Europe through Marinade, offering a 6.48% reward, competing with 21Shares amid U.S. regulations limiting ETF staking rewards.
Bitwise Asset Management launches Solana Staking ETP in Europe.
Bitwise Asset Management has officially launched the Solana Staking ETP in the European market with an annual dividend of 6.48%, trading under the code BSOL.
Marinade, as an investor, ensures a solid infrastructure for the operation of the product. European investors seeking benefits from staking Solana may be attracted to BSOL due to the annual management fee of only 0.85%.
After Bitwise acquired ETC Group's ESOL product – a Solana ETP that does not offer staking rewards – the company released BSOL as a new step forward.
Bitwise's goal is to reshape the cryptocurrency ETP market and compete directly with 21Shares by bringing staking rewards to European investors.
Regulations in the United States currently do not allow Staking rewards in ETFs.
Due to legal issues in the United States, the benefits from staking cannot be integrated into Solana ETF funds, which diminishes their appeal to investors.
While awaiting clarity from U.S. regulators, Bitwise has focused on developing BSOL in Europe as an alternative solution.
This strategy helps Bitwise improve its infrastructure and maintain a pioneering position in the market.
Bitwise's move also demonstrates a willingness to adapt to policy reforms in the United States.
As speculation grows about the U.S. Securities and Exchange Commission (SEC) changing under new leadership, Bitwise is preparing to integrate staking rewards into products in this country soon.
This proactive approach helps the company maintain its global competitive advantage and be ready to embrace changes in the legal framework.
