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Bitwise has launched a new ETP (Exchange-Traded Product) dedicated to Solana, identified with the ticker BSOL, which offers an innovative opportunity for investors interested in the cryptocurrency sector.
This product combines the ease of access to digital assets with a significant added value: the rewards generated from staking Solana (SOL).
Summary
ETP Solana: the competitive advantage of BSOL
Staking is a fundamental practice in Solana’s proof-of-stake blockchain, where users lock their tokens to support the security and operation of the network. In return, they receive rewards in the form of new SOL tokens.
Bitwise has collaborated with Marinade, one of the leading staking companies on Solana, to integrate this feature into the BSOL ETP, ensuring investors an annual yield of 6.48%.
This aspect makes BSOL particularly interesting compared to competitors, such as the ETP on Solana offered by 21Shares, which guarantees a yield of 5.49%. Additionally, BSOL has a lower management fee, equal to 0.85%, compared to 2.5% from 21Shares. These elements highlight the competitiveness of Bitwise in the European market of cryptocurrency-linked ETPs.
The launch of BSOL in Europe is a further step in Bitwise’s strategy to expand its presence in the bull cryptocurrency landscape.
This movement follows the company’s announcement regarding the registration of a statutory trust in Delaware, indicating the intention to introduce a Solana ETF in the United States. This future product could benefit from the same staking infrastructure developed for the European ETP, offering competitive returns to American investors.
Bitwise’s commitment to perfecting its staking infrastructure on Solana demonstrates a strategic vision: consolidating Solana’s position as one of the leading blockchains for efficiency, speed, and returns generated from staking.
BSOL vs ESOL: the evolution of the product
The BSOL represents a significant improvement over the previous ETP on Solana by Bitwise, acquired through the purchase of the ESOL product from ETC Group. Although ESOL manages 24 million dollars in assets, it does not offer rewards for staking, limiting the appeal for investors.
The possibility of earning a passive yield makes BSOL a more attractive option, particularly for institutional and retail investors looking for growth opportunities in the bull and bear cryptocurrency sector.
One of the strengths of Solana is the high annual reward rate for staking, which is around 8%, more than double the average yield of Ethereum. This aspect, combined with lower transaction costs and greater scalability, has made Solana one of the most popular blockchains among crypto investors.
Bitwise leverages these characteristics to position BSOL as a leading product in the crypto ETP market. The ability to transfer a large portion of the staking rewards to investors, while keeping management fees low, highlights the company’s focus on optimizing returns.
Conclusions: the future of Solana with BSOL
The launch of BSOL marks an important milestone for Bitwise, which aims to lead the adoption of Solana in Europe and the United States. The staking rewards offered by BSOL not only attract investors seeking passive returns, but position Bitwise as one of the most competitive issuers in the crypto ETP sector.
With the expansion of financial products based on Solana, the BSOL could consolidate the role of this blockchain as one of the most relevant digital assets for the future of cryptocurrencies.