Solana ETF: Bitwise Enters the Race for SOL ETF in Delaware

Solana ETF To Launch Soon, The Blockchain Platform Soaring High

Solana ETF Interest Grows Among Asset Managers

With Solana's growing market performance, it is attracting increasing interest from asset managers and firms looking to invest in the cryptocurrency. Recently, prominent asset managers like Canary Capital and VanEck have filed with the U.S. Securities and Exchange Commission (SEC) to take part in the Solana market. Additionally, Bitwise, a digital asset management firm, has entered the race by registering a proposed spot Solana ETF in Delaware.

Bitwise's Move Toward Solana ETF

Bitwise has officially registered a statutory trust for an SEC-approved spot Solana ETF. The company is expected to soon file an S-1 registration statement with the SEC. The registration for the Bitwise Solana ETF was made on November 20, with CSC Delaware Trust Company listed as the registered agent in Wilmington, Delaware. However, the submission of a 19b-4 filing is still required to formalize the ETF. Once completed, the Bitwise Solana ETF will track the price movements of Solana, the world’s fourth-largest cryptocurrency.

Bitwise’s Previous ETF Ventures

Bitwise has previously filed for a spot XRP ETF on October 1, and submitted the necessary S-1 form shortly after. The firm also has Bitcoin and Ethereum ETFs listed on the New York Stock Exchange Arca, although it remains unclear which exchange will list the proposed Solana ETF after its approval.

VanEck’s Interest in Solana ETF

VanEck’s head of digital asset research, Matt Sigel, expressed interest in a Solana spot ETF, citing the impact of Donald Trump’s victory in the recent U.S. presidential election and the appointment of Gary Gensler as SEC chairman. Sigel believes that these developments could lead to a more disclosure-focused regulatory environment, benefiting the growth of the cryptocurrency market.

Industry Opinions on Solana ETF Approval

While there is significant interest in the potential approval of a Solana ETF, some industry leaders believe its approval will not carry the same weight as that of Bitcoin or Ethereum ETFs. Despite this, the ongoing developments signal a growing institutional interest in Solana and other cryptocurrencies.

Filing for Spot Litecoin ETFs

In addition to Solana, there has also been news of asset managers filing for spot Litecoin ETFs, indicating a broader trend of institutional interest in various cryptocurrencies.