Solana Takes Bitwise Product Launches in Germany As Hopes Raise About US ETF Approval ⋆ ZyCrypto

Crypto fund manager Bitwise has launched the Solana exchange-traded product (ETP) in Europe, while awaiting approval in the United States for the Solana exchange-traded fund (ETF) offering.

Bitwise's new Solana Staking ETP by stock ticker BSOL will trade in Germany on the Xetra trading platform at the Frankfurt Stock Exchange in collaboration with Marinade, a self-storage automation tool. According to the company, the fund allows investors to earn more returns compared to other SOL products, as it uses a staking mechanism.

Staking refers to the process of locking up coins to keep a crypto network running. Authentication networks like Solana reward users who pledge their assets to the network by providing a return in the form of additional tokens.

Bitwise's new ETP provides its stakeholders with an annual percentage yield (APY) of 6.48%, surpassing its European competitors such as 21Shares, which offers 5.49%.

The BSOL fund will “provide investors with a low-cost, liquid and transparent investment vehicle for exposure to SOL,” Bitwise said in a statement on Wednesday.

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Crypto Industry Bullish on ETF Agreements in 2025

Several reputable fund managers in the United States, including Canary Capital, Grayscale, 21Shares, and VanEck have already filed paperwork with the Securities and Exchange Commission to issue Solana ETFs spot in. Such investment returns would give investors access to shares that directly track the price of the sixth largest digital currency. In November, Bitwise itself took the first step towards spot SOL ETF.

However, staking remains a controversial topic in the US as the SEC has implemented enforcement actions against crypto exchanges for allegedly violating federal securities laws by withholding products. The Wall Street regulator has also designated SOL as an unregistered security.

That being said, with President-elect Donald Trump poised to return to the Oval Office on a crypto-friendly platform and current SEC chairman Gary Gensler stepping down as of January 20, members of the crypto community are increasingly optimistic that more spot crypto ETFs could be approved. in the United States. This is one of the catalysts that sent SOL to a new historic high price in November after Trump's election victory.