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Bitwise has launched a Solana Staking ETP on the Deutsche Börse AG, catering to European investors seeking higher returns through staking, which rewards users for locking up their SOL tokens. As the asset approaches an all-time high, Bitwise has also filed for a Solana ETF in the U.S., amid growing optimism for regulatory changes following the upcoming political shifts. However, staking remains contentious in the U.S. due to ongoing SEC scrutiny.
Bitwise has launched its Solana-based crypto-staking exchange-traded product (ETP), BSOL, in Europe, offering an annualized return of 6.48%, surpassing competitors like 21Shares. This move follows the company's plans for a Solana ETF in the US, amid evolving regulatory landscapes. Despite Solana's recent performance lagging behind Bitcoin and Ethereum, optimism remains among traders regarding its long-term potential.
Bitwise has launched a Solana Staking ETP in Europe, trading under the ticker BSOL, which offers investors an annual yield of approximately 6.48% and a low management fee of 0.85%. This product, developed in partnership with Marinade, aims to attract investors seeking staking rewards, enhancing Bitwise's presence in the Solana market. As US investors await similar opportunities, the collaboration could signal a shift in the landscape for Solana staking in the US.
Solana's price has struggled below $215 after peaking at $263 on November 22, dipping to $203 last week. Despite a recent uptick in trading volume, analysts suggest it may retest the $203 support before any potential recovery, with a target of $300 requiring a break through resistance at $222. Meanwhile, Bitwise has launched a Solana Staking ETP in Europe, offering a 6.48% staking reward, as interest in Solana remains high.
Bloomberg analysts predict that Litecoin and Hedera ETFs will launch before those for Solana and XRP, citing fewer regulatory hurdles. However, market demand for these ETFs remains uncertain, with limited issuer interest compared to the multiple filings for XRP and Solana. Regulatory challenges, particularly for Solana and XRP due to ongoing legal issues, may further delay their approval. Litecoin is currently trading at $122.41, having increased by 4.95% in the past day and 10.69% over the past week.
The upcoming RLUSD stablecoin is expected to drive demand for XRP, particularly in emerging economies where stablecoins are popular for transactions. As transactions settle on the XRP Ledger, XRP holders will benefit from transaction fees, which involve burning XRP. Following a historic rally in late 2024, XRP's market cap is nearing that of Tether, with significant catalysts like Donald Trump's election and multiple XRP ETF applications sustaining investor interest. The New York Department of Financial Services approved Ripple's RLUSD stablecoin, which will be overcollateralized and redeemable at a 1:1 ratio with US dollars.
Ethereum's price projection could drop to $7,300 by 2030, reflecting changing fundamentals, while institutional demand has surged, with BlackRock's Ethereum ETF attracting $1.5 billion in just 16 days. Despite recent inflows, concerns linger over the impact of layer-2 networks on Ethereum's market value.
Bitcoin's recent surge to an all-time high of $100,000 is igniting hopes for a sustained altcoin season, with analysts predicting a 'Santa Rally' for cryptocurrencies like XRP and Solana. Key drivers include Donald Trump's election victory, which is expected to ease regulatory pressures, and increased institutional adoption, particularly with the anticipated launch of more crypto ETFs. As Bitcoin's market dominance declines to under 54%, traders are increasingly shifting their focus to smaller altcoins.
21Shares has restructured into two independent units: 21Shares for asset management and 21.co Technologies for product and technology development, aiming to enhance growth in digital assets and blockchain. The management team has been revamped, with key hires from Abrdn, and the company now manages over $10 billion in assets.
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