Bitwise Tests Tokenized Shares for Regulated Funds

Bitwise Asset Management is partnering with fintech firm Superstate to develop tokenized shares for select funds, starting with its Bitwise Solana Staking ETF (BSOL). This test case is significant as it explores whether blockchain recordkeeping can coexist with traditional share ownership without changing what investors hold.

The proposed structure would allow shareholders to choose between book-entry ownership through The Depository Trust Company or tokenized shares recorded on a blockchain and maintained by Superstate's transfer-agency system. Tokenized shares would carry the same economic and voting rights as traditional shares, with no separate security created.

Regulatory approval is crucial for the rollout of this technology, and Bitwise has stated that availability of the tokenized option depends on meeting all applicable legal and regulatory requirements. There's no set timeline for launch, but this pilot project could become a template for other issuers if successful.