Bitwise is working with tokenization firm Superstate to explore bringing its Solana Staking ETF, trading under the ticker BSOL, on-chain, according to a post from Cointelegraph citing the two companies. The plan would let shares of the regulated fund exist as tokens that trade and settle on a blockchain, with Bitwise signaling that other funds could follow the same path.
The move sits at the intersection of two trends that have defined 2026: US-listed staking ETFs that pass on-chain yield to holders, and the push to put traditional fund shares onto public ledgers. SOL traded at $75.71 as of August 14, 2026, down 0.6% on the day but up 4.3% over the prior week, per CoinMarketCap.
A regulated staking fund meets its own rails
BSOL is a spot Solana ETF that stakes the SOL it holds and distributes the resulting rewards to shareholders. Tokenizing it would mean the fund share itself becomes a blockchain token, rather than a line item that only exists inside a brokerage account. The asset the fund holds already lives on Solana; the wrapper around it would now live there too.
Superstate is the counterparty on the tokenization side. The firm runs infrastructure for issuing and managing tokenized securities, and its involvement is the operational detail that separates this from a vague "exploring blockchain" statement. A named tokenization partner and a named fund is what makes the announcement concrete rather than aspirational.
The word to hold onto is "explore." Neither company has committed to a launch date, a chain of record beyond Solana, or the legal structure that would govern the tokenized shares. Tokenizing a registered fund raises questions about transfer restrictions, who can hold the token, and how on-chain trades reconcile with the fund's official share register. Those are the same open questions that have slowed other tokenized-fund efforts across Wall Street.
Tokenized funds keep arriving faster
This announcement lands in a busy month for tokenized securities. The SEC recently cleared Franklin Templeton's on-chain money fund for fund custody, and a 40-firm Wall Street group led by JPMorgan and Goldman has been running a tokenized asset trial. Securitize reported a record $4.3 billion in tokenized assets under management even as it posted a quarterly loss.
Bitwise's angle is distinct because it starts with a yield-bearing product. A tokenized money fund earns interest; a tokenized staking ETF earns staking rewards that originate on the same network the token would settle on. That symmetry is the interesting part. It also means the fund's income depends on Solana validator performance, which has had rough patches: a recent validator outage knocked 102 of 699 nodes offline, a reminder that staking yield is not risk-free even inside a regulated wrapper.
For now the practical impact is limited. A tokenized BSOL would still be a security, subject to the same rules and likely the same investor gating as the ETF today. The token form changes settlement mechanics and composability, not who is allowed to buy.
Payment rails are the longer game
The reason on-chain fund shares matter beyond trading desks is what they could plug into later. A tokenized, yield-bearing instrument that settles on a public chain is the raw material for products that blur the line between an investment and a spending balance. Stablecoins already move onto crypto cards and into stablecoin spending rails; tokenized yield-bearing assets are a step up in complexity because the balance earns while it sits.
That future is not here. No card program spends directly from a tokenized ETF share today, and the regulatory gating on a security makes it a harder fit than a stablecoin. But the direction of travel is clear: issuers want their products to live where the assets and the users already are, and increasingly that means on-chain. Solana in particular has become a settlement venue for mainstream finance, with MoneyGram building a cash on-ramp to the network and payment firms routing stablecoin volume through it.
The signal here is one official announcement from two named firms about a specific fund. It is a Tier 2 development, not a launch. If a tokenized BSOL ships with a real trading venue and clear investor rules, it would be one of the first US staking ETFs to settle on the chain it invests in. Until then, it is a plan.
Overview
Bitwise and Superstate are exploring tokenizing Bitwise's BSOL Solana Staking ETF, which would put shares of the regulated, yield-bearing fund on-chain. Other Bitwise funds could follow. SOL traded at $75.71 as of August 14, 2026. The announcement is a concrete plan with named partners, but no launch date, legal structure, or trading venue has been confirmed, and a tokenized fund share would remain a gated security rather than an open on-chain asset.
