Bitwise registers Solana ETF in US state Delaware
Bitwise has registered a statutory trust for a proposed spot Solana ETF in Delaware, indicating an upcoming S-1 registration statement filing with the US Securities and Exchange Commission (SEC). The Bitwise Solana ETF was incorporated on November 20, with CSC Delaware Trust Company as the registered agent. Bitwise must submit a 19b-4 filing and S-1 to compete with other firms like VanEck and Canary Capital. If approved, the ETF will track Solana's price, currently the fourth-largest cryptocurrency. No stock exchange or ticker has been specified for the ETF. VanEck's Matthew Sigel predicts a high likelihood of approval by the end of 2025, citing a more favorable regulatory environment. Despite Solana's significant price increase of 2360% during the bull cycle, it performed poorly in the bear cycle and has not reached a new all-time high. The SEC has delayed decisions on other crypto ETFs, including the Franklin Templeton Crypto Index ETF.
