The fintech firm Superstate has partnered with Bitwise Asset Management to develop a blockchain-based system for tokenizing shares of certain Bitwise funds, positioning the Bitwise Solana Staking ETF (BSOL) as the first such fund. While no assurance is given regarding its launch, under the current framework in development, tokenization would change how share ownership is recorded without altering investors’ rights or purchasing channels. Shares held in tokenized form on a blockchain platform carry similar rights to those in traditional book-entry form but wouldn’t be freely transferable outside this system.
Bitwise Asset Management holds over $9 billion in client assets and manages more than 70 investment products, while Superstate partners with issuers and asset managers for compliant securities issuance and record-keeping through blockchain platforms. The collaboration aims to introduce a new method of issuing ETFs on the Solana blockchain, leveraging Bitwise’s expertise in crypto assets and Superstate’s experience in fintech solutions.
Under the current development framework, tokenization would alter how ownership is recorded within the system but wouldn’t affect investors’ rights or existing purchasing channels. The tokens issued for these funds are expected to have similar benefits as traditional shares but with enhanced transparency and security features provided by blockchain technology.
Written by Roger Slater
Technology Desk
