In light of the delay in the approval of its Solana ETF in the United States, Bitwise has taken a strategic step towards Europe. The fund manager has launched BSOL, a staking ETP for Solana, providing European investors with direct access to the rewards of this popular Blockchain. This move positions Bitwise as a pioneer in offering Solana products in the Old Continent, leveraging an increasingly receptive market for cryptocurrencies.
In fact, this development comes less than a month after Bitwise announced its plans to include a Solana ETF in the United States by registering a statutory trust in Delaware.
Regarding this, the head of digital asset research at VanEck, Matthew Sigel, predicts high chances of approval by the end of 2025.
Cross-border expansion: Consolidating presence in Europe
The launch of BSOL by Bitwise follows the introduction of its first Solana ETP in Europe, ESOL, which debuted in August after the company acquired nine listed cryptocurrency ETPs in Europe from the ETC Group.
Unlike ESOL, which does not offer staking rewards, BSOL aims to fill this gap by incorporating the staking feature.
In this regard, Hunter Horsley, CEO of Bitwise, stated: "At Bitwise, we continue to expand our product range to provide investors access to the opportunities offered by the cryptocurrency market through high-quality vehicles they can trust. Solana is one of the rising star assets in this sector, and we are excited to launch BSOL, the third staking ETP we have launched this year.
To conclude, the arrival of BSOL in Europe will not only expand investment options for institutional investors but could also catalyze a new growth cycle for Solana. With this strategic alliance, Solana positions itself as an increasingly attractive platform for developers and users, consolidating its leadership in the Blockchain ecosystem.
