- Bitwise introduces Solana staking ETP in the European market.
- The ETP will be traded as BOSL on Deutsche Börse XETRA.
- Bitwise has also applied for a Solana ETF in the US.
Launch of Solana ETP on XETRA
Asset manager Bitwise has introduced the Solana staking exchange-traded products in the European Union market, as per a recent press release on December 18.
The Bitwise Solana staking ETP offers rewards and competitive fees in comparison to other firms in the European Union.
Details of Solana ETP on XETRA
Bitwise announced the launch of the Solana staking ETP on December 18, 2024. The product will trade under the ticker BOSL on Deutsche Börse XETRA. This launch comes as Bitwise awaits regulatory approval for its Solana exchange-traded fund (ETF).
By being available on XETRA, European investors now have access to staked SOL, providing them with investment opportunities.
Bitwise’s CEO, Hunter Horsley, expressed excitement about the launch of BSOL, the third staking ETP introduced by the company. This follows the Ethereum and Aptos staking ETPs launched earlier in the year.
Future Prospects for Solana ETF
In November 2024, Bitwise established a statutory trust for its proposed spot Solana (SOL) ETF in Delaware. This move indicates the company’s intention to seek regulatory approvals from the U.S. Securities and Exchange Commission (SEC).
Industry experts suggest that the likelihood of the US approving a spot Solana ETF is higher in 2025, providing hope for Bitwise’s approval process.
Expansion and Growth
Bitwise’s acquisition of European crypto asset issuer ETC Group in August led to the introduction of BSOL, the second digital asset product in Europe. With this launch, Bitwise expanded its listings in the region to nine, significantly increasing its assets under management.
Other ETP offerings by Bitwise in Europe include the physically backed Bitcoin ETP launched in 2020 and the Ethereum staking ETP introduced in early 2024.
