TLDR
- Bitwise partnered with Superstate to develop tokenized share ownership for selected investment funds.
- The Bitwise Solana staking ETF is expected to be the first fund considered for the tokenized share option.
- Investors could choose between traditional DTC book-entry shares and blockchain-recorded tokenized shares.
- Tokenized shares would provide the same shareholder rights as traditional shares but would remain within an approved recordkeeping system.
- Superstate will provide the transfer agency infrastructure needed to record and manage tokenized fund shares onchain.
Bitwise Asset Management has partnered with Superstate to build a system that could let investors hold shares of selected funds in tokenized form. Bitwise expects the Bitwise Solana staking ETF to become the first fund considered for the option, although launch timing remains uncertain.
The planned structure would not create a new security or change investor rights. It would only change how the system records ownership, while investors would continue buying the same fund shares through existing channels.
Bitwise Solana Staking ETF Set for Onchain Option
Under the proposed framework, shareholders could choose between traditional book-entry shares held through the Depository Trust Company and tokenized shares on a blockchain. Superstate would maintain the blockchain records through its registered transfer agency system.
Bitwise said tokenized shares would carry the same rights as standard shares. However, investors would not be able to move those shares freely outside the approved recordkeeping system, keeping transfers within the compliance structure.
Superstate works with fund managers and securities issuers that want to record regulated assets onchain. Its services include Opening Bell for tokenized equity and FundOS, a platform for asset managers creating tokenized funds.
The partnership gives Bitwise access to infrastructure for blockchain-based ownership records without changing how investors purchase its products. The companies are still developing the framework, and any rollout would depend on legal and regulatory requirements.
Bitwise Expands Fund Access Through Tokenization
Bitwise manages more than $9 billion in client assets and offers over 70 investment products. Its client base includes wealth managers, registered investment advisers, family offices, institutions, banks and broker-dealers.
The Bitwise Solana staking ETF could serve as the first test of the planned tokenized-share model. Bitwise stressed that it cannot guarantee whether the feature will become available for the fund or any other product.
The announcement comes days after Bitwise confirmed a 14% staff cut that reduced its global workforce to 155 employees. Chief Executive Hunter Horsley said the company made the move to support its growth plans.
Bitwise is moving ahead with product development while adjusting its workforce. Its agreement with Superstate now adds tokenized fund ownership to its planned services, subject to regulatory requirements and final implementation. The project remains under development at both companies. Bitwise has announced no launch date.
