Bitwise Joins Mounting Race for Solana ETF
Bitwise has filed paperwork with the SEC to offer a Solana exchange traded fund (ETF), becoming the fourth company to pursue this initiative, following Canary Capital, VanEck, and 21Shares. The filing comes amid changing regulatory expectations for the crypto industry, particularly with Donald Trump's anticipated return to the White House and the expected departure of SEC Chair Gary Gensler. Solana's SOL token, which is gaining traction in trading activity, could soon be available for Wall Street investors through an ETF. Bitwise already manages ETFs for Bitcoin and Ethereum and has a history of applying for ETFs involving more controversial assets. The company reported $5 billion in assets under management and collaborates with Cboe for the proposed ETF. Necessary paperwork for the ETF launch is still pending.
