Bybit’s staked SOL token, bbSOL, is now under the institutional custody of Anchorage Digital, enhancing its regulatory standing and institutional appeal.
Key Takeaways
- Anchorage Digital, a federally chartered crypto bank, now offers institutional-grade custody for Bybit’s bbSOL, a staked version of Solana’s SOL token.
- This move combines liquidity with regulatory assurance, enabling regulated entities to engage with Solana’s DeFi ecosystem confidently.
- bbSOL holders gain access to bank-level security and U.S. federal compliance, further legitimizing Solana-based liquid staking for institutional investors.
- The announcement aligns with broader trends in institutional adoption of Solana, as ETFs like Bitwise’s $BSOL and Grayscale’s $GSOL report significant capital inflows.
What Happened?
Bybit has partnered with Anchorage Digital to bring institutional-grade custody to its staked Solana asset, bbSOL. This development positions bbSOL as a secure and compliant entry point for regulated investors looking to earn on-chain yields without compromising asset flexibility.
Anchorage Digital, the first federally chartered crypto bank in the U.S., now provides custody services for bbSOL, offering funds, asset managers, and enterprises a regulated path into Solana’s DeFi space.
Bybit Staked SOL (bbSOL) is now supported for custody through @Anchorage Digital.
— Bybit (@Bybit_Official) October 29, 2025
bbSOL is an exchange-backed SOL LST now supported by a U.S. federally regulated crypto bank, broadening access for participation in the @solana DeFi ecosystem.
Read more: https://t.co/PMa4Wiw9EX… pic.twitter.com/Guj73f7v45
Bybit and Anchorage Digital Partner for Institutional Access
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has taken a strategic leap by securing institutional custody support for its bbSOL token from Anchorage Digital. This integration solidifies bbSOL as a trusted liquid staking token (LST) in the Solana ecosystem, tailored specifically for institutional investors.
bbSOL enables holders to earn staking rewards on Solana without locking their tokens, providing liquidity and flexibility across DeFi protocols. With Anchorage Digital’s backing, bbSOL now offers bank-grade custody under U.S. federal oversight, making it more accessible to regulated financial institutions.
Emily Bao, Head of Spot at Bybit and Founder of Byreal, called the integration:
Anchorage Digital’s Role and Reputation
Anchorage Digital has built a strong reputation for safeguarding digital assets for major institutions like Visa and Franklin Templeton. With the addition of bbSOL, it extends that bank-level security and compliance to Solana’s liquid staking sector.
Nathan McCauley, CEO and Co-Founder of Anchorage Digital said:
The partnership bridges the gap between traditional finance and decentralized markets, reflecting a growing convergence where security, regulation, and yield-generating blockchain technologies meet.
Institutional Interest in Solana Grows
The announcement comes amid rising institutional interest in Solana. On the same day as the custody news, Solana-based ETFs saw a combined $47.9 million in inflows, led by Bitwise’s $BSOL with $46.5 million, and Grayscale’s $GSOL with $1.4 million. These inflows point to a larger appetite from both retail and institutional investors for regulated Solana exposure.
bbSOL’s newfound custodial backing may position it as a key gateway product, especially for institutional players looking to participate in on-chain yield without compromising compliance.
CoinLaw’s Takeaway
In my experience, integrations like this are game-changers for institutions sitting on the fence. It is not just about offering another staking product. It is about making that product safe, compliant, and appealing to money managers and enterprise-grade investors who have strict requirements. Anchorage Digital’s custody makes bbSOL a more serious contender in the liquid staking space. I found this partnership to be a smart, strategic move by Bybit. It is the kind of bridge that builds real trust between DeFi and TradFi. If Solana’s momentum continues, bbSOL might become one of the most institutionally embraced tokens in the ecosystem.
