Bitwise Launches Solana Staking ETP in Europe

Crypto asset manager Bitwise has launched a Solana staking exchange-traded product (ETP) with the ticker bSOL for the European market.

Marinade Finance, Solana’s fourth-largest liquid staking platform by total value locked (TVL), will be its staking provider.

The move comes after the Securities and Exchange Commission (SEC) rejected Bitwise and other prospective issuers’ 19b4 filings for spot Solana exchange-traded funds earlier this month.

Bitwise registered a statutory trust in Delaware to indicate its intention to launch a Solana ETF in the U.S., but it seems to be pivoting following the SEC’s verdict. In a recent X post, the company announced that bSOL is live on the German stock exchange, Xetra.

“With its transparent fee structure and focus on performance, BSOL stands out as the institutional-grade solution for earning rewards from $SOL staking,” Bitwise wrote on X.

SOL is down 10% over the last week.