Bitwise announced on Aug. 14 that it has partnered with fintech firm Superstate to explore recording portions of its fund shares on the blockchain in tokenized form. The Bitwise Solana Staking ETF (BSOL) is expected to be the first fund to support the option. Under the plan the two companies are developing, tokenization would only change how fund share ownership is recorded — investors would still buy the same fund shares with identical rights. They could choose to hold via the Depository Trust & Clearing Corporation (DTC) in traditional book-entry form, or as blockchain tokens through Superstate's transfer agent infrastructure. Tokenized shares carry the same rights as traditional ones but would not be freely transferable outside the registration system. Bitwise noted that BSOL's tokenized shares still need to satisfy relevant legal and regulatory requirements, and the firm cannot guarantee when or whether the feature will officially launch. Other Bitwise funds could adopt a similar approach in the future.
Bitwise announced on Aug. 14 that it has entered a partnership with fintech firm Superstate to explore recording some of its fund shares on the blockchain in tokenized form. The Bitwise Solana Staking ETF (BSOL) is expected to be the first fund under the asset manager to support the option.
Under the framework the two firms are building, tokenization would only alter how fund share ownership is recorded. Investors would still be purchasing the same fund shares and would hold the same rights they do today. Two holding routes are being envisioned: the traditional book-entry format through the Depository Trust & Clearing Corporation (DTC), or blockchain-based tokens issued through Superstate's transfer agent infrastructure.
Bitwise stressed that tokenized shares would carry rights equal to legacy shares, but they would not be freely transferable outside that registration system.
The asset manager added that BSOL's tokenized shares still need to clear applicable legal and regulatory hurdles, and it can't guarantee when — or whether — the feature will formally launch. A similar arrangement could eventually be extended to other Bitwise funds.
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