Bitwise Taps Superstate for Tokenization of Solana Staking ETF
Crypto asset manager Bitwise is exploring tokenization for its Solana Staking ETF (BSOL). The company has partnered with fintech firm Superstate to build the infrastructure necessary for this process. Tokenization would change how ownership of shares is recorded, but investor rights and purchase channels would remain unchanged.
Bitwise CEO Hunter Horsley confirmed that tokenized shares would carry the same rights as book-entry shares, but they would not be freely transferable outside the blockchain system. This means shareholders could choose between holding their stakes in a traditional Depository Trust Company (DTC) book-entry system or in blockchain-based tokenized form.
The Bitwise Solana Staking ETF is currently one of more than 70 investment products managed by Bitwise, which oversees over $9 billion in client assets. The company has also announced a reduction in its global workforce, cutting 14% of employees and reducing its headcount to 155 people.