Bitwise Asset Management announced on Thursday a partnership with fintech firm Superstate to develop the capability to tokenize shares of certain Bitwise funds.
The firm stated Thursday that it expects the Bitwise Solana Staking ETF (BSOL) to be its first tokenized fund, though there is "no assurance" that it will launch.
Bitwise said that under the framework currently in development, tokenization would change only how share ownership is recorded, while investors would retain the same rights and purchasing channels.
"Shareholders could then elect to hold those shares either in traditional book-entry form through The Depository Trust Company or in tokenized form recorded on a blockchain and maintained through Superstate’s transfer agency infrastructure," Bitwise explained.
Shares held in tokenized form would carry the same rights as those in book-entry form, though they would not be freely transferable outside the blockchain-based system.
