Solana

Bitwise Enters Spot Solana ETF Race with SEC Filing, What’s Next

Published

10 months ago

November 21, 2024

Bitwise, a number one asset supervisor, has reportedly filed for a Solana ETF Belief in Delaware, in response to a number of social media posts. Based mostly on obtainable information, the corporate formally filed Type S-1 underneath the identify “BITWISE SOLANA ETF” with the U.S. Securities and Change Fee (SEC) on November 20, 2024.

Bitwise recordsdata for Spot Solana ETF

With this utility, Bitwise joins the race along with different asset managers, comparable to VanEck and Canary, for the approval of a Spot Solana ETF (Change-Traded Fund). The filed BITWISE SOLANA ETF affords buyers the chance to entry Solana via a conventional funding account.

Whereas there may be widespread optimism amongst crypto fans about its potential to drive market development, skepticism about its instant impression stays. The authenticity of the applying and its market implications have but to be formally confirmed.

At present, ETF consultants like Eric Balchunas and James Seyffart are silent, as if unaware of this submitting.

When will Spot Solana ETF get approval?

Including to the skepticism on social media, Matthew Sigel, head of digital asset analysis at VanEck, famous in a latest interview with the Monetary Occasions that the possibilities of a spot Solana ETF being permitted in 2025 are “overwhelmingly excessive.”

Nonetheless, the corporate had already filed Type 19b-4 for the Solana ETF. Moreover, Sigel had beforehand confirmed that VanEck’s Solana ETF submitting is a guess on Trump’s victory. He famous that if Trump wins the presidential election, he’ll seemingly appoint a brand new SEC chairman to interchange the present chairman, Gary Gensler.

READ Will $300 Be the Next Stop?

Solana (SOL) Value momentum

On the time of writing, Solana (SOL) is buying and selling round $237.80 and is unchanged over the previous 24 hours. Throughout the identical interval, buying and selling quantity fell by 3.65%, indicating barely decrease participation from merchants and buyers in comparison with earlier days.