By Nermeen Nabil Khear 
The company recently registered the Solana ETF with the state of Delaware, signaling that it may soon file for official approval with the U.S. SEC.
If everything goes according to plan, Bitwise could soon be competing with other asset managers. VanEck and Canary Capital are one of them. The idea is to get a spot in Solana ETF approved by the SEC.
Bitwise Registers Solana ETF, Eyes SEC Approval
The registration was completed on November 20th, with the trust officially listed in Delaware’s Division of Corporations. The registered agent for Bitwise’s Solana ETF is CSC Delaware Trust Company, based in Wilmington, Delaware. However, to officially enter the race for approval, Bitwise will need to submit an S-1 registration statement. And a 19b-4 filing to the SEC, similar to what they did with their XRP ETF proposal in October.
BREAKING: Bitwise just filed a Solana ETF Trust registration in Delaware, per state department filings. pic.twitter.com/lZn8s9w5XA
— SolanaFloor (@SolanaFloor) November 20, 2024
The goal of the Bitwise Solana ETF would be to track the price of Solana, the world’s fourth-largest cryptocurrency. If approved, the Solana ETF could offer investors a new way to get exposure to Solana’s price movements. This is without directly owning the cryptocurrency. This move could be seen as a big step forward for the crypto space. So, as more companies try to bring cryptocurrency products into the mainstream.
More About Bitwise’s Solana ETF
Bitwise hasn’t released the proposed ticker symbol for its SOL ETF, and it’s unclear which stock exchange will list it. For reference, Bitwise’s Bitcoin ETF and Ethereum ETF are listed on the New York Stock Exchange Arca. While the filing didn’t mention the exchange, this could give us a clue about it. This is where the Solana ETF might end up.
Bought $100k worth of Arkk’s Bitcoin’s ETF @ $46.73
(Yes i have real Bitcoin too)
The main benefit I see for holding some of the ETF is that I will be able to borrow against these assets quickly without selling out of them for profit #Bitcoin
This is the Charles schwab app pic.twitter.com/sWklLMk34h
— WealthSquad Chris
(@CJ_Johnson17th) January 11, 2024
Matthew Sigel, head of digital asset research at VanEck, believes the chances of the SEC approving a spot SOL ETF by the end of 2025 are “overwhelmingly high.” Part of the reason for his optimism is a more crypto-friendly regulatory environment.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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