Bitwise launches Solana staking ETP in Europe amid US approval delays

Crypto index fund manager Bitwise has launched a Solana staking exchange-traded product (ETP) in Europe with the stock ticker BSOL while it awaits registration approval in the United States for its Solana exchange-traded fund (ETF) offering. 

According to a Dec. 18 news release, Bitwise has listed its Solana ( SOL )-based crypto-staking ETP on the Frankfurt Stock Exchange’s Xetra trading venue in partnership with a self-custodial automation tool, Marinade.

Bitwise had not responded to Cointelegraph’s request for more details about the partnership by the time of publication.

The new ETP offers an annual percentage yield (APY) of 6.48% for stakers, outpacing its European competitors like 21Shares, which offers 5.49%.

Bitwise introduces low fees to fight existing European players

BSOL’s management fee is set at a competitive 0.85%, significantly lower than 21Shares’ 2.5%.

In November, Bitwise also registered a statutory trust in Delaware for its proposed spot Solana ETF, which requires further regulatory filings with the US Securities and Exchange Commission.

Bitwise’s Solana ETF registration in the US. Source: State of Delaware Division of Corporations

While Bitwise continues to await that approval, VanEck’s head of digital asset research, Matthew Sigel, said the odds of a US-approved spot Solana ETF will be “overwhelmingly high” by the end of 2025.

Bitwise’s first Solana ETP in Europe, ESOL, debuted in August as a result of the ETC Group acquisition. BSOL aims to fill a major gap with ESOL’s lack of support for staking rewards by having the feature baked in.

Bitwise bullish on ETF approvals in 2025

The acquisition added nine European-listed crypto ETPs to Bitwise’s portfolio and increased its assets under management to over $4.5 billion. The ESOL product currently holds $24 million in assets under management.

Related: Bitwise files for 10 Crypto Index Fund ETF with the SEC

Bitwise investment chief Matt Hougan and research head Ryan Rasmussen recently predicted that at least five “crypto unicorns” will go public in 2025 , including stablecoin issuer Circle and crypto exchange Kraken.

Five strongest candidates for IPO listings in 2025. Source: Bitwise

Additionally, the Bitwise duo forecast that Bitcoin will hit $200,000 or more by the end of 2025 and said it could surpass gold’s current $18 trillion market cap by 2029.

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