Crypto asset manager Bitwise has filed for a Solana (SOL) ETF in Delaware, as the price of SOL nears its all-time high of $259. If approved, the ETF will allow institutional and retail investors to get exposure to Solana, which is the fourth-largest cryptocurrency by market capitalization. Bitwise already has Bitcoin and Ethereum ETFs trading on US stock exchanges, and Solana’s inclusion would expand their product portfolio.
The growing interest in blockchain technologies beyond Bitcoin and Ethereum has contributed to the trend in crypto ETFs. Solana’s popularity is due to its speed, scalability, and developer-friendly ecosystem. The recent political shifts in the US, including former President Donald Trump’s election and SEC Chair Gary Gensler’s resignation, have increased optimism about the approval of spot ETFs tied to digital currencies like Solana.
Other companies like VanEck and 21Shares have also filed for Solana ETFs.
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