Asset manager Bitwise has announced the launch of the first spot Solana exchange-traded product (ETP) in the United States.
The Bitwise Solana Staking ETF, trading under the ticker BSOL, will debut on the New York Stock Exchange on Tuesday. The company has highlighted that the product offers "100% direct exposure to spot SOL."
The launch is an important step toward Solana's integration into mainstream finance.
Kristin Smith, president of the Solana Policy Institute, said:
"The rails of global finance are being rebuilt with Solana at the center and investors will now have access to it."
The move comes amid a wave of new applications for crypto ETPs, including products from Canary Capital and Grayscale.