Bitwise registers Solana Trust signalling future SEC application for SOL spot ETF
Summary
Bitwise Asset Management is moving towards launching a spot Solana ETF, having registered a statutory trust in Delaware. The ETF would track Solana's market price, offering exposure to the fourth-largest cryptocurrency by market cap. Competition includes firms like VanEck and Canary Capital. Solana's popularity is rising, with a 354% increase over the past year. Bitwise aims to expand its crypto offerings, with assets under management reaching $5 billion by mid-October 2024, a 400% increase. The firm's spot Bitcoin ETF has attracted over $2 billion in net inflows, and Bitwise has acquired Attestant, boosting total managed assets to over $10 billion.
