Bitwise to Partner with Superstate to Tokenize Solana Staking ETF BSOL

BlockBeats News, August 14th, Bitwise announced a partnership with the fintech company Superstate to explore recording a portion of its fund shares on the blockchain in tokenized form, with the Bitwise Solana Staking ETF (BSOL) expected to become the first fund to support this option.

According to the solution being developed by both parties, tokenization only changes the record form of fund share ownership, and investors will still purchase the same fund shares and have the same rights. In the future, investors can choose to hold through the traditional book-entry form via the Depository Trust Company (DTC) or hold in tokenized form through Superstate's transfer agent infrastructure. The rights of tokenized shares are identical to traditional shares but cannot be freely transferred outside of that registry system.

Bitwise stated that the tokenized shares of BSOL still need to meet relevant legal and regulatory requirements, and the formal launch of this feature is currently not guaranteed or determined. Other Bitwise funds may also adopt similar approaches in the future.