A Solana exchange-traded product may not exist in the U.S. yet, but until the SEC approves such funds, asset managers are feeding an apparent appetite from European investors for products related to the sixth-biggest digital coin. 

Crypto asset manager Bitwise today announced its new Solana Staking ETP, which will trade in Germany on the Deutsche Börse AG. The fund gives investors the chance to earn bigger returns compared to other SOL products, Bitwise said, because it uses a staking mechanism. 

Staking refers to the process of “locking up” digital coins or tokens to help keep a crypto network running. Proof-of-stake networks like Solana reward users who pledge their coins to the network by providing yield in the form of additional tokens.

Bitwise said in a Wednesday statement that the fund will give investors a “low-cost, liquid, and transparent investment vehicle for staked

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Author: Mathew Di Salvo

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