TL;DR
Bitwise has filed for a Solana ETF in Delaware, reflecting growing interest in blockchain assets.
The ETF approval faces regulatory challenges, including Solana’s classification as an asset.
Trump’s re-election is expected to favor more cryptocurrency-friendly regulation.
Bitwise Asset Management has taken a major step by filing an application to create a Solana ETF (exchange-traded fund). This initiative reflects the growing demand for financial products that closely track the price of emerging cryptocurrencies such as Solana, whose SOL token has gained prominence in the market. The application was filed with Delaware authorities as part of a broader expansion strategy by the firm, which has recently seen a spectacular 400% growth in its assets under management (AUM). According to available data, Bitwise now manages at least $5 billion, a testament to its success in the cryptocurrency world. However, this request faces regulatory hurdles. The US Securities and Exchange Commission (SEC) has historically been cautious about cryptocurrency ETFs, due to concerns about market manipulation, custodial risks, and the classification of assets like Solana. In the past, similar Solana ETF applications were withdrawn from the Chicago Board Options Exchange due to a lack of clarity regarding its commodity status. Despite these challenges, some analysts are optimistic about the future of cryptocurrency ETFs under the leadership of the Trump administration. The report notes that despite regulatory hurdles, the change in administration could speed up the approval process for products like the Solana ETF. With Donald Trump‘s re-election, a more favorable stance towards technological innovation is expected, which could ease restrictions on cryptocurrencies and allow for greater adoption of these assets in the traditional financial market. According to several experts, this change could translate into the approval of more cryptocurrency-related ETFs, including those focusing on Solana, an asset that is already being compared to other established cryptocurrencies such as Bitcoin and Ethereum. 
The impact of Trump’s re-election on the cryptocurrency industry The Trump administration could mark a milestone in the advancement of cryptocurrencies within the US. According to some analysts, its pro-crypto approach could generate a more favorable regulatory environment for these assets. In particular, it is believed that supporting innovation and reducing bureaucratic barriers would allow the SEC to approve more products like the Solana ETF. This possibility is reflected in the opinion of Dan Jablonski, an industry expert, who noted that under the Trump administration, the Solana ETF could gain approval within two to three years. This shift in cryptocurrency regulation could also have global implications. Other countries, such as Brazil, have already launched their own Solana ETF, and the approval of one in the US could cement the country’s position as a leader in blockchain technology. In an increasingly globalized market, institutional investors and smaller market players are keeping an eye on how the US will handle cryptocurrencies in the future. In the current context, Solana‘s price has seen a slight increase of 1.48% following the news, trading at $238.91. Although this increase is modest, investors expectations remain high. If the SEC approves the ETF, investment flows are expected to increase, which could lead to a significant increase in Solana‘s market capitalization. With the support of more crypto-friendly administrations, the US has the potential to overcome regulatory hurdles and reposition itself as a global leader in the blockchain sector. The approval of this ETF would not only open the door to further adoption of Solana, but could also be the first step towards a significant change in cryptocurrency policies around the world.
