Bitwise, a crypto-index fund manager, has launched an ETP that allows investors to stake their Solana holdings on the Frankfurt Stock Exchange.
The product, called BSOL, is currently only available in Europe, as Bitwise is awaiting US registration approval for its Solana exchange-traded fund (ETF) offering.
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Through a partnership with Marinade, a self-custody automation tool, the Bitwise ETP offers an annual percentage return of 6.48% for stakers, outperforming European competitors such as 21Shares, which offers a 5.49% return.
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According to Bitwise's chief investment officer, Matthew Hougan, the Solana staking ETP (BSOL) has been designed to provide the best possible outcomes for investors, as it offers both rewards for SOL staking and exposure to its price movements.