Bitwise Asset Management has announced a partnership with fintech firm Superstate to tokenize shares of certain funds, with the Bitwise Solana Staking ETF (BSOL) potentially becoming the first such offering. The initiative aims to record share ownership on a blockchain while retaining existing investor rights and purchasing channels, though the launch of BSOL remains unconfirmed.
The tokenization process would not alter the legal or financial rights of investors but would shift the method of recording ownership from traditional book-entry systems to blockchain-based infrastructure. Superstate, which provides transfer agency services, would manage the tokenized shares, while traditional shares would continue to be held through The Depository Trust Company.
Bitwise, which oversees over $9 billion in client assets and offers 70 investment products, has also undergone significant restructuring, reducing its global workforce by 14% to 155 employees. The firm’s CEO, Hunter Horsley, stated that the layoffs were intended to strengthen the company’s position as it pursues growth initiatives.
Shareholders would have the option to hold their shares either in traditional form or as tokens on a blockchain, according to Bitwise. The transition is expected to streamline administrative processes for asset managers while offering investors new flexibility in how they manage their holdings.
The Block, which reported the partnership, noted that the tokenization effort aligns with broader industry trends toward onchain securities. However, the potential launch of BSOL remains conditional, with no assurance of its implementation at this stage.
Written by Roger Slater
Technology Desk
