Bitwise Asset Management has taken a significant step toward launching a spot Solana exchange-traded fund (ETF).
On Nov. 20, the company registered a statutory trust in Delaware through CSC Delaware Trust, signaling plans to file with the Securities and Exchange Commission (SEC) for approval.
Bitwise CEO Hunter Horsley confirmed the registration in a Nov. 20 post on X but withheld further details.
What next?
Launching the ETF requires Bitwise to submit 19b-4 and S-1 forms to the SEC. If approved, the ETF would track Solana’s market price, offering investors exposure to the fourth-largest crypto by market capitalization.
The ETF would face competition from other firms like VanEck and Canary Capital, which are also pursuing spot Solana ETFs. While Bitwise has not disclosed the ETF’s ticker or intended exchange, it could join its other funds listed on NYSE Arca.
Solana’s rise in the ETF landscape reflects its growing market appeal. The digital asset has surged 354% over the past yea
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