Bitwise Asset Management has partnered with fintech firm Superstate to develop a system for tokenizing shares of its funds, with the Bitwise Solana Staking ETF (BSOL) planned as the first candidate. Under the proposed framework, investors can choose between traditional book-entry shares via the Depository Trust Company or blockchain-based tokenized shares, while retaining identical shareholder rights. The announcement follows Bitwise cutting 14% of its staff to prepare for future growth, reducing its headcount to 155.
Bitwise-Superstate tokenization partnership
- ▪Bitwise Asset Management announced a partnership with Superstate on August 13, 2026, to develop a system allowing investors to hold fund shares as blockchain-based tokens.
- ▪The Bitwise Solana Staking ETF is planned as the first fund considered for tokenization under the Bitwise and Superstate partnership, though its launch is not guaranteed.
Tokenized share ownership structure
- ▪The proposed Bitwise tokenization framework would alter how share ownership is recorded without changing shareholder rights or the channels investors use to purchase shares.
- ▪Tokenized shares issued under the Bitwise and Superstate partnership would not be freely transferable outside of the specific blockchain-based system supporting them.
- ▪Under the proposed Bitwise and Superstate framework, shareholders can choose to hold shares in traditional book-entry form through the Depository Trust Company or in tokenized form on a blockchain.
Bitwise Solana Staking ETF
- ▪By mid-May 2026, the Bitwise Solana Staking ETF accumulated approximately $861 million in assets, representing about 81% of assets across tracked Solana ETF products.
- ▪The Bitwise Solana Staking ETF recorded $69.45 million in first-day net inflows, bringing its total assets to $288.92 million at launch.
- ▪The Bitwise Solana Staking ETF began trading on NYSE Arca in October 2025, providing direct exposure to Solana and incorporating staking rewards.
Superstate transfer agency infrastructure
- ▪Superstate registered its subsidiary, Superstate Services LLC, as a transfer agent with the U.S. Securities and Exchange Commission in March 2025 to maintain ownership records for tokenized securities.
- ▪Galaxy Digital utilized Superstate's infrastructure in September 2025 to put its Nasdaq-listed shares onchain, with Superstate serving as the registered transfer agent.
- ▪Superstate was selected in June 2026 to provide blockchain support and maintain the shareholder registry for Invesco's proposed Stablecoin Reserves Onchain Fund.
Bitwise workforce reduction
- ▪Bitwise manages more than $9 billion in client assets across more than 70 investment products.
- ▪Bitwise confirmed in August 2026 that it reduced its workforce by 14%, bringing its global headcount down to approximately 155 employees.
- ▪Bitwise Chief Executive Officer Hunter Horsley stated that the 14% workforce reduction was intended to better prepare the asset manager for ongoing growth.
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