Bitwise launches Solana staking ETP with 8% rewards in Europe

December 18, 2024 04:00 AM PST | By Invezz

Bitwise launches Solana staking ETP with 8% rewards in Europe — Image source: Invezz

Bitwise’s expansion into Europe with the Solana staking ETP

Bitwise’s decision to launch the BSOL ETP in Europe follows its recent acquisition of a European ETP issuer in August, which facilitated a smoother entry into the market.

The launch underscores the firm’s strategy to diversify from US-based ETFs, which are prohibited from providing staking rewards due to current securities laws.

By focusing on the EU, Bitwise aims to capitalize on more favorable regulatory conditions for staking products.

The region has seen the introduction of similar Solana staking ETPs, such as VanEck’s offering, reflecting a growing acceptance of these products in Europe.

Solana’s market appeal

Despite the current Solana’s price market corrections, Solana (SOL) continues to exhibit relative strength compared to other cryptocurrencies, maintaining investor interest.

While the BSOL Solana staking ETP has not yet had a noticeable impact on Solana’s price, it provides European investors with a compelling option to earn staking rewards while gaining exposure to Solana (SOL).

Bitwise’s strategy highlights the firm’s adaptability and suggests that, if US regulations remain restrictive, the company may deepen its focus on Europe.

However, if a more crypto-friendly SEC emerges in the US, there could be renewed interest in launching a Solana ETF domestically, potentially allowing for staking features.

For now, BSOL offers a unique value proposition for European investors looking to engage with Solana and benefit from staking rewards.

The post Bitwise launches Solana staking ETP with 8% rewards in Europe appeared first on Invezz

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