According to ME News, on August 14 (UTC+8), Bitwise announced a partnership with fintech company Superstate to explore tokenizing certain shares of its funds on the blockchain, with the Bitwise Solana Staking ETF (BSOL) expected to be the first fund to support this option. Under the solution currently under development, tokenization only changes the method of recording ownership of fund shares; investors will still purchase the same shares and retain identical rights. In the future, investors may choose to hold their shares either in traditional book-entry form through the Depository Trust & Clearing Corporation (DTC) or as blockchain-based tokens via Superstate’s transfer agent infrastructure. Tokenized shares will have identical rights to traditional shares but will not be freely transferable outside this registration system. Bitwise stated that tokenized shares of BSOL must still comply with applicable legal and regulatory requirements, and it cannot guarantee when or if this feature will be officially launched. Similar solutions may also be adopted by other Bitwise funds in the future. (Source: BlockBeats)
Bitwise to Partner with Superstate to Tokenize the Solana Staking ETF BSOL
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Summary
Bitwise has made ETF news by partnering with fintech company Superstate to tokenize portions of its fund shares. The Bitwise Solana Staking ETF (BSOL) is likely to be the first to offer this feature. Tokenization will only affect how shares are recorded, not ownership rights. Investors can still hold shares through DTC or as blockchain tokens via Superstate’s system. Tokenized shares will not be freely transferable outside the registration system. Bitwise states that the initiative must comply with legal standards, and no launch date is guaranteed. Other funds may follow suit.
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