By Nermeen Nabil Khear 
This ETP would directly hold SOL, the native token of the Solana blockchain. This will give investors a new way to invest in this crypto.
This launch, from Bitwise, of the Solana ETP is still waiting for approval, as it needs to pass a filing process called Form 19b-4 and another called Form S-1. Once approved, it could make Solana even more accessible to investors who want to get involved in this growing blockchain space.
Solana’s Growth and Bitwise’s Commitment to Launching Solana ETP
SOL, Solana’s native token, is currently the third-largest cryptocurrency, worth over $110 billion. Since it launched in 2020, Solana has been a strong competitor in the blockchain space, processing more than 50 million transactions every day and generating over $540 million in revenue in 2024 alone.
According to a blog post, Bitwise CEO Hunter Horsley explained, “Bitwise helps investors access the opportunities emerging in crypto with peace of mind, and any list of those opportunities wouldn’t be complete without Solana.” He also mentioned that Solana is cheaper, faster, and easier to use than many other blockchains, which is why many top crypto projects are choosing to build on it. Bitwise is committed to bringing a Solana ETP to market, starting with this filing.
Today, the Cboe BZX Exchange has filed to list a spot Solana ETP from Bitwise. The ETP would directly hold SOL, the native token of the Solana blockchain and the third-largest crypto asset in the world. pic.twitter.com/5jgKxZN4L5
— Bitwise (@BitwiseInvest) November 21, 2024
This announcement comes after a successful year for Bitwise, which now has over $11 billion in client assets. The firm has launched several ETPs, including spot Bitcoin and spot Ethereum products. Together, they have brought in $4.3 billion in assets. Bitwise has also expanded by acquiring the European crypto asset manager ETC Group and the staking provider Attestant.
Bitwise continues to offer a variety of investment products, including index funds, staking solutions, and alpha strategies, serving financial institutions and investors who want to understand and access crypto assets. With over 30 products in the U.S. and Europe, Bitwise is working hard to stay ahead of the game in the ever-evolving world of cryptocurrency.
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The post Bitwise Files to Launch Solana Exchange-Traded Product (ETP) appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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