Bitwise tests tokenized shares for its $861M Solana Staking ETF
Bitwise Asset Management is exploring tokenized shares for some of its exchange-traded funds, teaming up with fintech firm Superstate to test whether blockchain recordkeeping can sit alongside traditional share ownership without changing what investors actually hold. The move, announced Thursday, targets the Bitwise Solana Staking ETF as the first candidate, though the company is careful to note that nothing is guaranteed yet. For an industry still figuring out how far tokenization can go inside regulated fund wrappers, this is a notable test case.
Key takeaways
- Bitwise Asset Management has partnered with Superstate to develop tokenized share recording for select Bitwise funds.
- The Bitwise Solana Staking ETF (BSOL) is expected to be the first fund considered for the tokenized option.
- Tokenized shares would carry the same economic and voting rights as traditional book-entry shares, with no separate security created.
- Investors could choose between book-entry ownership through The Depository Trust Company or blockchain-based ownership via Superstate’s transfer-agency system.
- The rollout depends entirely on meeting legal and regulatory requirements, and Bitwise has offered no launch timeline.
Bitwise and Superstate Collaborate on Tokenized Shares
Bitwise Asset Management, which manages roughly $9 billion in client assets across more than 70 investment products, has entered a partnership with Superstate to build a framework that lets certain fund shares exist in tokenized form. Superstate is a fintech company that works with issuers and asset managers to bring securities onto blockchain rails, and it already has a working relationship with Bitwise on other products.
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