Bitwise Brings Regulated Funds Onchain Through Tokenized Shares

Bitwise Asset Management has partnered with Superstate to bring its exchange-traded funds (ETFs) onchain, starting with a potential tokenized version of its Solana staking product. The Solana Staking ETF, trading under the ticker BSOL, is expected to be the first fund offered with the tokenized option.

The plan would not create a new security or alter the underlying fund. Instead, tokenization would change how ownership is recorded, allowing investors to hold shares as blockchain-based tokens. The proposed structure reflects a broader trend in traditional finance: placing regulated securities on blockchain rails without changing their legal status.

The partnership extends Bitwise's effort to connect regulated investment products with crypto-native infrastructure. However, the initiative remains subject to legal and regulatory requirements, and there is no guarantee that tokenized shares will become available for BSOL or any other fund. The timing of this announcement comes during a period of internal restructuring at Bitwise, which confirmed it had cut 14% of its workforce.