Crypto▲ Bullish
Bitwise Builds Tokenized Share Capability for Solana Staking ETF
Bitwise partners with Superstate to develop tokenized share recording for its Solana Staking ETF, aiming to blend blockchain with regulated securities.
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Bitwise Asset Management will work with fintech firm Superstate to develop the ability to tokenize shares in certain funds, with the Bitwise Solana Staking ETF expected to be the first product to use the new system, the firm said in a press release.
Under the framework, tokenization would change only how share ownership is recorded. Investors would keep the same rights and purchase channels they have today.
“Shareholders could choose to hold those shares in traditional form through The Depository Trust Company, or in tokenized form recorded on a blockchain and managed through Superstate’s transfer agency infrastructure,” Bitwise said. Shares held in tokenized format would retain the same rights as those registered in the conventional system, though they would not be freely transferable outside the system, the firm added.