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    Bitwise rolls out Solana-based ETP in Europe with competitive yield, seeks U.S. approval

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    Crypto fund manager Bitwise has launched a Solana-based exchange-traded product (ETP), with an annual percentage yield (APY) of around 6.48%, in the European market under the ticker name BSOL, while pending approval for a similar product in the U.S. Launched in partnership with automation tool Marinade, the Solana-based crypto-staking ETP offers lower management fees at 0.85% compared to competitors such as 21Shares. Bitwise’s previously launched Solana ETP (ESOL) and the new BSOL have increased the company’s portfolio to over $4.5 billion.

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    The crypto fund manager Bitwise is making some waves with a new product for the European market. They’ve just kicked off a Solana-based exchange-traded product (ETP) under the stock ticker BSOL. This all happened while they’re still waiting for the approval in the U.S. to launch their Solana-focused exchange-traded fund (ETF).

    Back on December 17, Bitwise started its Solana-based crypto-staking ETP in Europe. They got some help in kickstarting this through a partnership with an automation tool called Marinade. The info comes from a report by Blockworks.

    No one from Bitwise got back in time to give more information about the partnership before this news got released. But, on the bright side, the new ETP has a nice yearly interest rate, or annual percentage yield (APY) to be precise, of just about 6.48%. This might not seem a lot but it’s better than what the European competitors are offering at the moment, like 21Shares that offers their customers 5.49%.

    BSOL has quite low management fees compared to European competitors. The fees stand at 0.85%, a lot less than 21Shares’ which are as high as 2.5%. And last November, Bitwise established a statutory trust in Delaware, U.S.A for its wanna-be Solana ETF. This would mean they would have more filings with the Securities and Exchange Commission.

    With its eyes on all the opportunities in the U.S., VanEck’s digital asset research leader, Matthew Sigel is super confident that chances are sky high for Bitwise’s Solana ETF to get the green light in the U.S by the end of 2025.

    Bitwise’s first Solana ETP (ESOL) in Europe kicked off in August thanks to them acquiring the ETC Group. Bitwise knew that ESOL was missing something crucial for investors, so they’ve introduced BSOL with a built in staking rewards feature.

    The new addition of European-listed crypto ETPs has grown Bitwise’s portfolio from 9 to over $4.5 billion. Their ESOL product alone is holding $24 million!

    Bitwise’s investment chief Matt Hougan along with research head Ryan Rasmussen have stated their bold predictions that there will be at least five major entrants to the scene in 2025. Some of these might even include Circle, the stablecoin issuer, and the crypto exchange Kraken.

    And if that’s not showing enough ambition, the two gents from Bitwise also reckon Bitcoin could hit $200,000 or even more by the end of 2025. They’re even bold enough to say it could surpass the current market cap of gold, which is a mind-blowing $18 trillion, by 2029.

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