{"id":33758,"date":"2024-12-19T16:00:25","date_gmt":"2024-12-19T13:00:25","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=33758"},"modified":"2024-12-19T13:53:04","modified_gmt":"2024-12-19T10:53:04","slug":"solana-staking-etp-by-bitwise-in-europe","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/solana-staking-etp-by-bitwise-in-europe\/","title":{"rendered":"Solana Staking ETP by Bitwise in Europe"},"content":{"rendered":"

Despite uncertainties surrounding the approval process for a Solana exchange-traded fund (ETF) in the United States, crypto asset management firm Bitwise has made an innovative move in Europe. The company launched a Solana staking exchange-traded product (ETP) under the name BSOL, aiming to enhance competition in the European market and create new opportunities for Solana-focused investments.<\/p>\n

Bitwise’s Solana staking ETP stands out as a significant step in the European market. With high yield rates, low management fees, and strategic acquisitions, the company seeks to make a mark in the crypto space. This move highlights the increasing pace of competition and innovation in not only the European but also the global crypto markets.<\/p>\n

Where is the Solana Staking ETP Traded?<\/b>
\nAnnounced by Bitwise on December 18, the Solana staking ETP began trading on the Xetra platform of the Frankfurt Stock Exchange. By integrating Marinade, an automation and self-custody tool, the product offers investors an attractive annual yield of 6.48%. This rate is highly competitive compared to other market players; for example, 21Shares, a leading European ETP provider, offers a 5.49% yield for a similar product.<\/p>\n

How Does Bitwise Attract Investors?<\/b>
\nBitwise draws attention not only with its high yield rate but also with low management fees. The BSOL’s management fee, set at 0.85%, offers a significant advantage compared to 21Shares’ 2.5% fee. This low-cost strategy is a key component of Bitwise\u2019s efforts to strengthen its presence in the European market.<\/p>\n

Acquisition of ETC Group by Bitwise<\/b>
\nTo accelerate its European operations, Bitwise acquired ETC Group in August. This acquisition added nine European crypto ETPs to its portfolio, increasing its total assets under management to over $4.5 billion. Additionally, with the development of BSOL, the company aims to address the lack of staking support in its first Solana-based ETP, ESOL.<\/p>\n

Why Focus on Europe?<\/b>
\nOne of the main reasons for Bitwise\u2019s focus on the European market is the regulatory delays in the United States. In November, the company filed a legal application for a spot Solana ETF in Delaware. However, the cautious approach of the U.S. Securities and Exchange Commission (SEC) toward approving crypto products has slowed down the process. Experts predict that a Solana spot ETF might not be approved in the U.S. until the end of 2025.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite uncertainties surrounding the approval process for a Solana exchange-traded fund (ETF) in the United States, crypto asset management firm Bitwise has made an innovative move in Europe. The company launched a Solana staking exchange-traded product (ETP) under the name BSOL, aiming to enhance competition in the European market and create new opportunities for Solana-focused<\/p>\n","protected":false},"author":23,"featured_media":30284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657],"tags":[1149,10257,319,10256],"class_list":["post-33758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","tag-bitwise","tag-esol","tag-solana","tag-solana-staking-etp"],"yoast_head":"\nSolana Staking ETP by Bitwise in Europe - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/solana-staking-etp-by-bitwise-in-europe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana Staking ETP by Bitwise in Europe - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Despite uncertainties surrounding the approval process for a Solana exchange-traded fund (ETF) in the United States, crypto asset management firm Bitwise has made an innovative move in Europe. 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