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Key Takeaways
- The New York Stock Exchange (NYSE) has approved the listing of Bitwise’s Solana Staking ETF on NYSE Arca, pending SEC approval before trading can begin.
- Bitwise’s ETF would provide investors with exposure to Solana’s native token and its staking rewards.
The New York Stock Exchange has approved the listing of Bitwise’s Solana Staking ETF on NYSE Arca, marking another step toward bringing crypto staking products to traditional markets.
Bitwise, a crypto-focused asset manager, has been expanding its offerings in crypto funds with staking capabilities to provide investors direct exposure to blockchain-native rewards. The proposed ETF would offer exposure to Solana’s native token with staking features.
Wall Street is increasingly focusing on Solana as a key blockchain, with money flows indicating growing institutional interest in the high-performance blockchain platform. The approval comes as traditional finance sectors show notable interest in Solana’s ecosystem.
The product still requires SEC approval before trading can begin. NYSE Arca, the electronic trading platform under the NYSE umbrella, has been certifying listings for innovative financial products tied to blockchain assets as part of the exchange’s push to bring emerging asset classes like crypto to traditional markets.
