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ZyCrypto 2024-12-31 05:20:19

SOL Bulls Tip Massive Run as Bitwise Rolls Out Solana Staking ETP

Solana (SOL) bulls are taking up tokens amid the slight market correction. This follows recent bullish price projections above $250 as traders align for positive movement next year. More institutional investors have rolled out Solana products with expectations of spot SOL ETF approvals in the United States. Crypto asset manager Bitwise has launched a Solana Staking Exchange Traded Product (ETP), adding to its growing list of institutional solutions. The product was listed on the Frankfurt Stock Exchange Xetra venue and is set to provide institutional-grade exposure to the network’s native crypto, SOL. Trading under the ticker BSOL, the product will give more rewards than previous options, going as high as 6.4%. Staking has become popular among institutional investors in search of more gains in the ecosystem. This year, several traditional investors tipped Ethereum for having the most potential due to its staking features. “ Bitwise today announced the listing of its new Bitwise Solana Staking ETP (Ticker: BSOL, ISIN: DE000A4A59D2) on Xetra, providing institutional-grade total return exposure to Solana’s native cryptocurrency, SOL. With an innovative staking mechanism engineered to deliver significantly higher rewards compared to other Solana staking ETPs, BSOL reaffirms Bitwise’s position as a leader in the fast-growing crypto asset market.” Bitwise Set Sights On Expansion According to the release, BSOL offers low-cost ownership and high staking returns. While it offers 6,48%, 21Shares, its EU competitor, gives 5.49%. The product also has a management fee lower than the competition. Its fees stand at 0.85%, while others are slightly higher. Bitwise CEO Hunter Horsley highlighted the company’s vision to expand its products for more opportunities in the crypto market. This is the company’s third staking ETP this year, with previous Ethereum and Aptos products launched in February and November. Bitwise has seen significant success growth with over $12 billion in assets as institutional investors pour into the space. Meanwhile, all eyes have turned to anticipated Solana ETFs in the United States. Solana’s price projection continues above old levels with more adoption and whale accumulations. This year, the asset outperformed altcoin rivals like Ethereum after it recorded a string of weekly inflows. Solana meme coins have also played a huge role in the ecosystem’s surge, with tokens dominating the space. Furthermore, SOL DeFi volumes skyrocketed on the back of increased activity in the market.

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