Bitwise said it is working with Superstate to develop the capability for shares of certain Bitwise funds to be held in tokenized form, with the Bitwise Solana Staking ETF, BSOL, expected to be the first fund where a tokenized share option may become available. The firm stressed that this is exploratory and that there is no assurance whether or when such an option will launch. The proposal would change recordkeeping rather than the economics of the product: investors would still buy the same shares through the same channels and retain the same rights, while ownership could be recorded either through DTC book-entry or through Superstate’s blockchain-based transfer-agency system. Tokenized shares would remain within that recordkeeping framework rather than trade freely like typical crypto tokens. BSOL held roughly 8.19 million SOL worth approximately $622.8 million in net assets as of August 12, and continues staking its full Solana position through Bitwise’s own validator infrastructure for a roughly 7% reward rate. Superstate’s funds USTB and USCC have already used the same infrastructure at institutional scale before the company began licensing it to outside asset managers through FundOS. BSOL is also a prominent candidate because of its strong launch and its position in an increasingly competitive Solana staking ETF market, where tokenization could give Bitwise a product-format distinction rather than a fee advantage.