Bitwise To Explore Tokenizing Bitwise Solana Staking ETF (BSOL) With Superstate; Other ETFs May Follow

Rhea-AI Summary

Bitwise Asset Management (NYSE: BSOL) announced a partnership with financial technology firm Superstate to develop the capability for certain Bitwise funds’ shares to be held in tokenized form on a blockchain. Under the contemplated framework, investors would still buy the same fund shares, with the same rights and channels as today, but could elect to hold them either in traditional book-entry form through DTC or in tokenized form recorded on a blockchain using Superstate’s SEC-registered transfer agency infrastructure.

Bitwise expects the Bitwise Solana Staking ETF (BSOL) to be the first fund where a tokenized share option may become available, though this remains subject to legal and regulatory requirements and may never occur. Bitwise reports managing $9 billion in client assets across more than 70 crypto-focused investment products.

Positive

• Tokenization framework with Superstate for select Bitwise funds’ shares
• BSOL targeted as first fund to offer optional tokenized share form
• $9 billion in client assets across more than 70 investment products

Negative

• BSOL investment risk includes high volatility and potential complete loss of capital
• Not registered under the Investment Company Act of 1940, reducing regulatory protections
• SOL market and liquidity risks may widen gaps between NAV and market price
• Staking program exposes fund SOL to slashing, loss of rewards, and operational risks
• Recently organized fund with limited performance track record and potential for disadvantageous liquidation

Market Context

BSOL had low short positioning, giving the platform record limited evidence of a short-driven setup ...

Analysis

BSOL had low short positioning, giving the platform record limited evidence of a short-driven setup around this announcement. The option remained conditional, with regulatory approval and tokenization infrastructure as key risks to monitor.

Key Figures

Client assets: $9 billion Investment products: over 70 investment products Private wealth teams and institutions: more than 5,500 +2 more

5 metrics

Client assets $9 billion Bitwise client assets

Investment products over 70 investment products Bitwise product suite

Private wealth teams and institutions more than 5,500 Bitwise customers and investor organizations

Banks and broker-dealers 21 Bitwise customers

Track record nine years Bitwise operating history

Key Terms

tokenized form, transfer agency infrastructure, creation units, 1940 act

4 terms

tokenized form technical

"hold those shares either in traditional book-entry form or in tokenized form"

A tokenized form is a digital representation of a real-world asset, right, or security created on a blockchain or similar ledger. Think of it as a digital certificate that breaks an asset into pieces or units that can be tracked, transferred, and traded more easily than the original physical or legal instrument. It matters to investors because tokenization can change liquidity, settlement speed, and how ownership is recorded and transferred.

transfer agency infrastructure financial

"maintained through Superstate's transfer agency infrastructure"

Transfer agency infrastructure is the set of systems, processes and service providers that keep records of who owns a fund’s or company’s securities, process share transfers, handle dividend and distribution payments, and support proxy voting and regulatory reporting. Like the backstage operations of a ticketing system that tracks who holds which seat, it matters to investors because reliable infrastructure ensures accurate ownership records, timely payments and smooth settlement, which affect the legal rights and cash flows associated with holdings.

creation units financial

"Authorized Participants' buying and selling activity associated with the creation and redemption of Creation Units"

Creation units are large blocks of an exchange-traded fund’s (ETF) shares that big market players can exchange with the fund for the underlying basket of securities, or vice versa. Think of it like a bakery swapping a box of finished cookies for the exact ingredients — this mechanism helps keep the ETF’s market price close to the value of its holdings, supports liquidity, and lets investors buy or sell without large price gaps.

1940 act regulatory

"not subject to the same protections as ETFs and mutual funds registered under the 1940 Act"

A U.S. federal law that serves as the rulebook for investment funds, setting standards for how pooled money must be organized, managed and reported. It requires funds to register, provide clear disclosures about fees and holdings, keep independent oversight, and limit risky practices so investors can understand what they own and how their money is handled. For investors, it reduces the chance of fraud or hidden risks—think of it as basic consumer protection and transparency rules for mutual funds and similar vehicles.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SAN FRANCISCO, Aug. 13, 2026 /PRNewswire/ -- Bitwise Asset Management, a global crypto asset manager, today announced a partnership with Superstate, a financial technology firm that partners with issuers and asset managers to bring securities onchain, to develop the capability for shares of certain Bitwise funds to be held in tokenized form.

Under the framework the firms are developing, tokenization would change only the form in which share ownership is recorded. Investors would continue to purchase the same shares of the applicable fund, with the same rights, through the same channels as today. Shareholders could then elect to hold those shares either in traditional book-entry form through The Depository Trust Company or in tokenized form recorded on a blockchain and maintained through Superstate's transfer agency infrastructure. Shares held in tokenized form would carry rights identical to shares held in book-entry form and would not be freely transferable outside that recordkeeping system.

Bitwise expects the Bitwise Solana Staking ETF (NYSE: BSOL) to be its first fund for which the tokenized share option may become available. Availability of the tokenized share option remains subject to applicable legal and regulatory requirements. There can be no assurance as to whether or when a tokenized share option will become available for BSOL or any other Bitwise fund.

About Bitwise

Bitwise Asset Management is a global crypto asset manager with $9 billion in client assets and a suite of over 70 investment products spanning ETFs, separately managed accounts, private funds, DeFi strategies, and staking. The firm has a nine-year track record and today serves more than 5,500 private wealth teams, RIAs, family offices and institutional investors as well as 21 banks and broker-dealers. The Bitwise team of technology and investment professionals is backed by leading institutional investors and has offices in San Francisco, New York, and London.

About Superstate

Superstate partners with issuers to bring securities onchain, enabling access to new investor capital and modern financial markets. Through Opening Bell, Superstate partners with companies issuing tokenized equity. Through FundOS, it serves asset managers launching tokenized funds. Both platforms support compliant issuance, record keeping, direct investor registration, and onchain market integration via their SEC-registered transfer agency infrastructure. Superstate's flagship funds USTB (now the Invesco Short Duration US Government Securities Fund) and USCC (now the Bitwise Crypto Carry Fund) validated this infrastructure at institutional scale before transitioning to leading asset managers on FundOS. Learn more at superstate.com.

Risks and Important Information

This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit bsoletf.com/welcome.

The Bitwise Solana Staking ETF (BSOL) is not suitable for all investors. An investment in BSOL is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. BSOL is not an investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act") and therefore is not subject to the same protections as ETFs and mutual funds registered under the 1940 Act. An investment in BSOL is not the same as a direct investment in Solana (SOL).

Shares of ETPs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The NAV may not always correspond to the market price of SOL and, as a result, Creation Units may be created or redeemed at a value that is different from the market price of the Shares. Authorized Participants' buying and selling activity associated with the creation and redemption of Creation Units may adversely affect an investment in the Shares.

The amount of SOL represented by a Share will continue to be reduced during the life of the Fund due to the transfer of the Fund's SOL to pay for the Sponsor's management fee, and to pay for litigation expenses or other extraordinary expenses. This dynamic will occur irrespective of whether the trading price of the Shares rises or falls in response to changes in the price of SOL.

There is no guarantee or assurance that the Fund's methodology will result in the Fund achieving positive investment returns or outperforming other investment products.

Investors may choose to use the Fund as a means of investing indirectly in SOL. Because the value of the Shares is correlated with the value of the SOL held by the Fund, it is important to understand the investment attributes of, and the market for, SOL.

SOL Risk. There are significant risks and hazards inherent in the SOL market that may cause the price of SOL to fluctuate widely. The Fund's SOL may be subject to loss, damage, theft or restriction on access. Investors considering a purchase of Shares should carefully consider how much of their total assets should be exposed to the SOL market, and should fully understand, be willing to assume, and have the financial resources necessary to withstand the risks involved in the Fund's investment strategy.

Liquidity Risk. The market for SOL is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Fund's NAV and its market price. The lack of active trading markets for the Shares may result in losses on investors' investments at the time of disposition of Shares.

Regulatory Risk. Future and current regulations by a U.S. or foreign government or quasi-governmental agency could have an adverse effect on an investment in the Fund.

Blockchain Technology Risk. Certain of the Fund's investments may be subject to the risks associated with investing in blockchain technology. The risks associated with blockchain technology may not fully emerge until the technology is widely used. Blockchain systems could be vulnerable to fraud, particularly if a significant minority of participants colluded to defraud the rest. Because blockchain technology systems may operate across many national boundaries and regulatory jurisdictions, it is possible that blockchain technology may be subject to widespread and inconsistent regulation.

Staking Risk. The Trust intends to implement a staking program under which a significant portion of the Trust's SOL will be staked. While staking Solana offers the potential to earn rewards in the form of additional Solana tokens, it also exposes the Trust to several risks, such as loss of rewards, slashing penalties, and operational uncertainties. Staking activities could impair the ability to satisfy redemption orders on a timely basis.

Nondiversification Risk. The Fund is nondiversified and will hold a single issue. As a result, a decline in the market value of a particular issue held by the Fund may affect the Fund's value more than if it invested in a larger number of issuers.

Recency Risk. The Fund is recently organized, giving prospective investors a limited track record on which to base their investment decision. If the Fund is not profitable, the Fund may terminate and liquidate at a time that is disadvantageous to Shareholders.

Bitwise Investment Advisers, LLC serves as the sponsor of the Fund. Foreside Fund Services, LLC serves as the Marketing Agent for BSOL, and is not affiliated with Bitwise Investment Advisers, LLC, Bitwise, or any of its affiliates.

Media Contact
Stephanie Dressler
pr@bitwiseinvestments.com 

View original content:https://www.prnewswire.com/news-releases/bitwise-to-explore-tokenizing-bitwise-solana-staking-etf-bsol-with-superstate-other-etfs-may-follow-302851427.html

SOURCE Bitwise Asset Management

FAQ

What did Bitwise announce about tokenizing the Bitwise Solana Staking ETF (BSOL) in August 2026?

Bitwise announced a partnership with Superstate to develop an option for BSOL shares to be held in tokenized form. According to Bitwise, this would change only how ownership is recorded, not investors’ rights, and remains subject to legal and regulatory approvals.

How would tokenized shares of the Bitwise Solana Staking ETF (BSOL) work for investors?

Investors would still purchase the same BSOL shares through existing channels but could elect to hold them in tokenized form on a blockchain. According to Bitwise, tokenized shares would carry identical rights to traditional DTC book-entry shares but remain within Superstate’s recordkeeping system.

When will tokenized shares of BSOL (NYSE: BSOL) be available to investors?

There is no confirmed launch date for tokenized BSOL shares. According to Bitwise, availability of a tokenized share option is subject to applicable legal and regulatory requirements, and there can be no assurance if or when it will become available for BSOL or other funds.

What risks does the Bitwise Solana Staking ETF (BSOL) highlight for SOL exposure and staking?

BSOL highlights high volatility, potential significant or complete loss, and specific SOL market and liquidity risks. According to Bitwise, its planned staking program may face slashing penalties, loss of rewards, operational uncertainties, and possible impacts on meeting redemption requests in a timely manner.

Is the Bitwise Solana Staking ETF (BSOL) registered under the Investment Company Act of 1940?

No, BSOL is not registered under the Investment Company Act of 1940. According to Bitwise, this means the ETF does not receive the same regulatory protections as 1940 Act-registered ETFs and mutual funds, and investors should carefully review the prospectus before investing.

How does investing in the Bitwise Solana Staking ETF (BSOL) differ from buying Solana (SOL) directly?

Investing in BSOL is not the same as directly purchasing SOL. According to Bitwise, BSOL shares provide indirect exposure and their value is correlated with SOL held by the fund, but share prices can differ from SOL’s market price and are subject to fund-specific fees and risks.

How large is Bitwise Asset Management and how many products does it offer?

Bitwise reports managing about $9 billion in client assets across more than 70 investment products. According to Bitwise, its lineup spans ETFs, separately managed accounts, private funds, DeFi strategies, and staking solutions serving thousands of wealth teams and institutional investors.