news 
Bitwise Launches Solana Staking ETP (BSOL) in Europe: Reports
In a recent development, crypto asset management firm Bitwise has launched its Solana staking ETP, branded as BSOL, in the European market. This move comes with Marinade being selected as the partner for staking services.
The launch of Bitwise’s Solana Staking ETP (BSOL) in Europe follows closely on the heels of a recent decision by the company to register a statutory trust in Delaware. This registration paves the way for listing a Solana ETF in the United States, which could potentially allow integration of staking rewards into its U.S. spot SOL ETF offering.
The regulatory landscape is expected to undergo significant changes once Paul Atkins-led SEC revises the existing norms. The Bitwise move bears resemblance to VanEck’s partnership with Kiln to support SOL staking for its products.
It was previously announced that Bitwise had acquired London-based ETC Group, which brought an inheritance of ESOL product managing $24 million in assets (down from $27 million a month ago). The acquisition is seen as an attempt to address the lack of staking rewards, a major drawback for ESOL investors. This move offers a potential opportunity for Solana holders.
Solana’s staking rewards are derived from SOL issuance, which is distributed by the network to validators running the blockchain. These validators then share these rewards with stakers to attract more staked SOL. According to Solana Compass, annual staking rewards for Solana stakers are nearly 8%, which is more than twice that of Ethereum.
Notably, Bitwise’s BSOL is expected to provide a slightly higher yield rate of 6.48% compared to 21Shares’ offering with a yield of 5.49%. However, the annual management fee associated with BSOL is significantly lower at 0.85%, as opposed to that of 21Shares at 2.5%.
Source: www.cryptonewsz.com
