Bitwise Solana ETP Surpasses $100M AUM Amid Increased Institutional Interest
- The Bitwise Solana Staking ETP (BSOL) has exceeded $100 million in assets under management.
- The ETP offers direct exposure to SOL’s performance and distributes daily staking rewards to investors.
- DeFi Development Corp. acquired an additional 86,307 SOL tokens at an average price of $110.91, increasing its total holdings to approximately $426 million.
- The firm plans to stake all newly acquired tokens across multiple validators for yield generation.
- Solmate purchased $50 million in SOL directly from the Solana Foundation at a discounted rate due to market conditions.
The growth of the Bitwise ETP reflects rising institutional interest in regulated staking products and the overall demand for DeFi investments amidst market fluctuations.
With DeFi Development Corp.’s recent acquisition of over $426 million in SOL, the momentum suggests a significant shift towards institutional adoption of the token.(Source)
