Solana staking is officially coming to the New York Stock Exchange. And crypto asset management giant Bitwise is behind it.

What’s happening:

  • Bitwise has launched a new Solana staking ETF on the New York Stock Exchange known as the Bitwise Solana Staking ETF (NYSE: BSOL)

Why it matters:‍

  • This is the first time there has ever been an ETF on a major stock exchange in the United States that will aim to stake all of the Solana under management

Going deeper:‍

  • Bitwise has publicly stated they are aiming to generate an average return for investors of 7% annually through staking
  • Solana’s largest validator Helius will provide the staking for the Bitwise Solana Staking ETF

The intrigue:‍

  • Bitwise has rapidly become one of the most important asset management companies in crypto and manages approximately $15B USD in digital assets through multiple different ETFs

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