Bitwise Expands Solana Staking Offerings in Europe with Competitive Edge
Bitwise, a prominent crypto index fund manager, has taken a significant step in strengthening its foothold in the European market by introducing a Solana staking exchange-traded product (ETP) under the ticker “BSOL.” This move comes as the firm continues to prepare for potential approval of its Solana exchange-traded fund (ETF) in the United States. Announced in a press release on December 18, the launch of BSOL on the Frankfurt Stock Exchange’s Xetra trading platform marks a noteworthy development, particularly as it integrates staking functionalities in partnership with Marinade, a self-custodial automation tool.
Bitwise remains silent on specifics regarding its partnership with Marinade, as they did not respond to inquiries from *Cointelegraph* by the time of publication. However, BSOL’s introduction reflects a broader strategic play by the company, as it aims to position itself as a competitive player in the rapidly evolving world of crypto investment products.
Aiming for Market Leadership with Higher Rewards
One of the standout features of Bitwise’s new Solana staking ETP is its attractive annual percentage yield (APY) of 6.48%. This figure sets the BSOL product apart from rival offerings in Europe, notably surpassing 21Shares’ staking ETP, which provides an APY of 5.49%. The higher reward rate underscores Bitwise’s commitment to delivering value-driven investment opportunities to its clients, especially those seeking exposure to the Solana blockchain ecosystem.
Low Fees: A Competitive Differentiator
Another compelling aspect of the BSOL offering is its notably low management fee, set at just 0.85%. In a market where cost efficiency plays a vital role in attracting investors, this rate significantly undercuts competitors like 21Shares, whose fee structure stands at a hefty 2.5%. By reducing expenses for investors, Bitwise is not only making Solana staking more accessible but also setting a benchmark for affordability amidst a burgeoning European ETP market.
Bitwise’s Broader Ambitions in the United States
While BSOL establishes its presence in Europe, Bitwise is simultaneously laying the groundwork for its Solana ETF aspirations in the United States. In November, the firm registered a statutory trust in Delaware for its proposed spot Solana ETF—an essential precursor to filing the necessary regulatory paperwork with the U.S. Securities and Exchange Commission (SEC). Although progress with the SEC has been slow, the future appears promising. Analysts like VanEck’s head of digital asset research, Matthew Sigel, have expressed optimism about the likelihood of U.S. regulatory approval for a spot Solana ETF, predicting “overwhelmingly high” odds by the end of 2025.
Building on Previous Successes
BSOL isn’t Bitwise’s first foray into Solana-based investment vehicles. In August, the company launched its inaugural Solana ETP, ESOL, following its acquisition of the ETC Group. However, ESOL lacked support for staking rewards, which BSOL seeks to address by embedding this feature directly into the product. This innovation bridges a crucial gap and enhances Bitwise’s offerings, making them more appealing to crypto investors hungry for higher yields.
The acquisition of the ETC Group brought an additional nine European-listed crypto ETPs into Bitwise’s portfolio and bolstered its assets under management (AUM) to an impressive $4.5 billion. Among these products, ESOL alone currently manages $24 million in AUM—a figure that signifies both investor interest and the potential for further growth as staking features are incorporated with BSOL.
A Bold Vision for the Future
Bitwise isn’t merely focused on staking and ETPs; the firm envisions a transformative period for crypto markets in the coming years. According to Matt Hougan, Bitwise’s Chief Investment Officer, and Ryan Rasmussen, the firm’s Head of Research, 2025 will see a wave of crypto innovations reshaping the financial landscape. Among their predictions is the public listing of at least five “crypto unicorns,” including Circle, a leading stablecoin issuer, and Kraken, a major cryptocurrency exchange. Furthermore, they anticipate explosive growth in Bitcoin’s value, projecting it could exceed $200,000 by the end of 2025 and potentially surpass gold’s current $18 trillion market capitalization by 2029.
Conclusion
Bitwise is clearly positioning itself as a forward-thinking leader in the crypto investment space, blending competitive yields, low fees, and innovative product structures. The launch of BSOL in Europe is just one piece of a much larger strategy aimed at redefining how investors interact with blockchain assets like Solana and Bitcoin. As the firm continues to expand its offerings and pursue regulatory approvals, its unwavering optimism about the future of crypto markets signals a commitment to driving both innovation and access for global investors.
