Bitwise Taps Superstate for Tokenized ETF Shares

Bitwise Asset Management is exploring tokenization for its exchange-traded funds (ETFs), starting with its Solana staking product, BSOL. The company has partnered with Superstate to create a blockchain-based infrastructure that would allow investors to hold shares of certain Bitwise funds as tokens.

The proposed structure would not change the underlying fund or create a new security. Instead, it would alter how ownership is recorded, giving shareholders two options: traditional book-entry ownership through the Depository Trust Company or tokenized record-keeping via Superstate's transfer-agent infrastructure.

Bitwise expects BSOL to be the first fund offered with the tokenized option. Tokenized shares would carry the same rights as conventional shares but may not be freely transferable outside the approved record-keeping system, limiting their unrestricted movement.

The initiative is subject to legal and regulatory requirements, and there is no guarantee that tokenized shares will become available for BSOL or other funds. The partnership extends Bitwise's effort to connect regulated investment products with crypto-native infrastructure.