Walrus blob · mainnet
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0.04);border-right:1px solid rgba(0, 0, 0, 0.04)"><h1 class="title" style="margin:0">Bitwise Launches Solana Staking Product in Germany as US ETF Hopes Grow</h1><h2 style="margin-top:0.5em;margin-bottom:1em">Crypto asset manager Bitwise has launched a Solana staking ETP in Germany while American investors await the U.S. equivalent.</h2><div style="display:flex;flex-direction:row;align-items:center;justify-content:space-between"><p style="font-size:14px;margin:5px 0px">By <span><a href="/author/mathewdisalvo"><span class="sc-adb616fe-0 bJsyml">Mat Di Salvo</span></a></span></p><div style="display:flex;flex-direction:row;align-items:center"><p style="font-size:14px;margin:5px 0px">2 min read</p><div style="height:4px;width:4px;background-color:#333;border-radius:50%;margin:0 11px"></div><p style="font-size:14px;margin:5px 0px"><span class="whitespace-nowrap"><time datetime="2024-12-18T18:49:28Z">Dec 18, 2024</time><time hidden datetime="2024-12-18T18:49:28Z" style="display:none">Dec 18, 2024</time></span></p></div></div><div style="position:relative;padding-top:56.25%;width:100%;margin:30px 0px"><amp-img style="border-radius:3px" class="cover i-amphtml-layout-fill i-amphtml-layout-size-defined" src="https://cdn.decrypt.co/resize/1024/height/512/wp-content/uploads/2023/12/solana-sol-coin-gID_7.jpg" layout="fill" i-amphtml-layout="fill"></amp-img></div><div style="display:flex;align-items:center;justify-content:center"><amp-ad width="320" height="50" type="doubleclick" data-slot="/22724166089/decrypt_amp_articles_inline" json="{"targeting":{"pubg_did":["2k/utr-cnd"]}}" rtc-config="{"vendors": { "aps": {"PUB_ID": "600", "PUB_UUID": "1ce5cb1e-d0d8-4aca-84a6-5a0f9f8af593", "PARAMS":{"amp":"1"}} }}" class="i-amphtml-layout-fixed i-amphtml-layout-size-defined" style="width:320px;height:50px;" i-amphtml-layout="fixed"></amp-ad></div><div style="word-break:break-word"><p><span style="font-weight:400">A </span><a href="https://decrypt.co/resources/what-is-solana-a-scalable-decentralized-network-for-dapps" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">Solana</span></a><span style="font-weight:400"> exchange-traded product may not exist in the U.S. yet, but until the SEC approves such funds, asset managers are feeding an apparent appetite from European investors for products related to the sixth-biggest digital coin. </span></p>
<p><span style="font-weight:400">Crypto asset manager Bitwise today </span><a href="https://www.globenewswire.com/news-release/2024/12/18/2998787/0/en/Bitwise-Launches-Best-In-Class-Solana-Staking-ETP-Expanding-Its-Suite-of-Crypto-Staking-Solutions.html" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">announced</span></a><span style="font-weight:400"> its new Solana Staking ETP, which will trade in Germany on the Deutsche Börse AG. The fund gives investors the chance to earn bigger returns compared to other </span><a href="https://decrypt.co/price/solana" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">SOL</span></a><span style="font-weight:400"> products, Bitwise said, because it uses a staking mechanism. </span></p>
<p><a href="https://decrypt.co/resources/how-to-invest-in-cryptocurrencies-staking-and-lending" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">Staking</span></a><span style="font-weight:400"> refers to the process of “locking up” digital coins or tokens to help keep a crypto network running. </span><a href="https://decrypt.co/resources/proof-of-work-vs-proof-of-stake" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">Proof-of-stake</span></a><span style="font-weight:400"> networks like Solana reward users who pledge their coins to the network by providing yield in the form of additional tokens.</span></p>
<p><span style="font-weight:400"><div></div></span></p>
<p><span style="font-weight:400">Bitwise said in a Wednesday statement that the fund will give investors a “low-cost, liquid, and transparent investment vehicle for staked SOL exposure.” <em>Blockworks</em> <a href="https://blockworks.co/news/bitwise-launches-solana-staking-etp-europe" target="_blank" rel="nofollow external noopener" class="sc-adb616fe-0 bJsyml">first reported the news</a> Tuesday ahead of the official announcement.<br>
</span></p>
<p><span style="font-weight:400">SOL is the coin running on Solana, its native blockchain. The Solana network is used by developers for everything from building DeFi or decentralized finance apps to launching meme coins or creating games. </span></p>
<p><span style="font-weight:400">The Solana ecosystem competes with </span><a href="https://decrypt.co/resources/what-is-ethereum-quickly-explained-four-minute-guide" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">Ethereum</span></a><span style="font-weight:400">, the network behind </span><a href="https://decrypt.co/price/ethereum" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">ETH</span></a><span style="font-weight:400">, by offering cheaper and faster transactions.</span></p>
<div></div>
<p><span style="font-weight:400">A number of top asset managers in the U.S.—including VanEck and 21Shares—</span><a href="https://decrypt.co/237554/another-solana-etf-filing-lands-in-us-as-21shares-follows-vanecks-lead" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">have filed</span></a><span style="font-weight:400"> paperwork to launch a spot Solana ETF. Such a fund would allow investors to buy shares that track the price of SOL. Bitwise itself <a href="https://decrypt.co/292877/bitwise-solana-etf-sol-nears-record-price" target="_blank" class="sc-adb616fe-0 bJsyml">took a first step</a> towards such a U.S. filing in November, as well.<br>
</span></p>
<p><span style="font-weight:400">But staking is a controversial topic in the U.S. as the SEC has </span><a href="https://decrypt.co/120984/sec-kraken-30-million-crypto-staking" target="_blank" class="sc-adb616fe-0 bJsyml"><span style="font-weight:400">sued</span></a><span style="font-weight:400"> crypto exchanges for allegedly violating securities laws with staking products. The regulator has also previously alleged that SOL is an unregistered security.</span></p>
<p><span style="font-weight:400">However, with Donald Trump returning to the White House on a pro-crypto platform and SEC Chair Gary Gensler <a href="https://decrypt.co/292878/sec-chair-gary-gensler-resign" target="_blank" class="sc-adb616fe-0 bJsyml">resigning as of January 20, 2025</a>, investors and analysts alike are increasingly optimistic that such regulatory hurdles will soon be cleared. It’s part of what <a href="https://decrypt.co/292874/solana-hits-all-time-high-price" target="_blank" class="sc-adb616fe-0 bJsyml">drove SOL to a new all-time high price</a> in November, following Election Day.</span></p>
<p><i><span style="font-weight:400">Edited by </span></i><a href="https://decrypt.co/author/andrew-hayward" taOn-chain registration not yet visible.
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