Bitwise Files for Solana ETF as Donald Trump Era Sparks Crypto Optimism

BE[IN]CRYPTO11-21 15:40

Bitwise filed a Delaware trust for a Solana ETF, signaling expansion amid Solana’s growing prominence and demand. The SEC's concerns over asset classification and custodial risks could challenge the ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitwise Files for Solana ETF as Donald Trump Era Sparks Crypto Optimism\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-21 15:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/bitwise-files-for-solana-etf/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitwise filed a Delaware trust for a Solana ETF, signaling expansion amid Solana’s growing prominence and demand.\nThe SEC's concerns over asset classification and custodial risks could challenge the ...</p>\n\n<a href=\"https://beincrypto.com/bitwise-files-for-solana-etf/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FETH","symbol_name":"Fidelity Ethereum Fund","start_time":0,"source_url":"https://beincrypto.com/bitwise-files-for-solana-etf/","article_id":"2485245113","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2023/12/bic_-Solana_SOL_1-covers_neutral-850x478.jpg.webp"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485245113","pubTimestamp":1732174806,"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Bitwise filed a Delaware trust for a Solana ETF, signaling expansion amid Solana’s growing prominence and demand.The SEC's concerns over asset classification and custodial risks could challenge the ETF’s approval timeline.Industry optimism rises as Trump’s administration signals policies to foster innovation and reduce crypto regulation barriers.Bitwise Asset Management has filed to establish a Delaware trust for its proposed Solana ETF . The move signals a renewed push to expand crypto offerings amid growing interest in blockchain-based assets.This filing represents the preliminary steps necessary for launching the financial instrument. The general sentiment is that it could lead to a submission to the US Securities and Exchange Commission  for approval.However, the tide appears to be turning following Donald Trump’s re-election, which many in the industry view as a potential catalyst for the crypto sector. Trump’s administration has signaled a pro-crypto stance, w","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FETH":"Fidelity Ethereum Fund","QETH":"Invesco Galaxy Ethereum ETF","BK4585":"ETF&股票定投概念","FDN":"First Trust Dow Jones Internet I","BK4129":"建筑与工程","ETHV":"Vaneck Ethereum ETF","BK4519":"光伏太阳能","BK4588":"碎股","EZET":"Franklin Ethereum Etf","BK4550":"红杉资本持仓","ETHW":"Bitwise Ethereum ETF","SOL":"EMEREN GROUP","CETH":"21Shares Core Ethereum ETF","BK4601":"加密货币现货ETF"},"translate_title":"唐纳德·特朗普时代引发加密货币乐观情绪，Bitwise申请Solana ETF","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SOL":1,"FDN":1,"ETHW":1,"CETH":0.9,"ETHV":0.9,"EZET":0.9,"FETH":0.9,"QETH":0.9},"content_text":"Bitwise filed a Delaware trust for a Solana ETF, signaling expansion amid Solana’s growing prominence and demand.\nThe SEC's concerns over asset classification and custodial risks could challenge the ETF’s approval timeline.\nIndustry optimism rises as Trump’s administration signals policies to foster innovation and reduce crypto regulation barriers.\n\nBitwise Asset Management has filed to establish a Delaware trust for its proposed Solana ETF (exchange-traded fund). The move signals a renewed push to expand crypto offerings amid growing interest in blockchain-based assets.\nThis filing represents the preliminary steps necessary for launching the financial instrument. The general sentiment is that it could lead to a submission to the US Securities and Exchange Commission (SEC) for approval.\nBitwise Plans Strategic Expansion With Solana ETF\nAccording to state department filings, the proposed Bitwise Solana ETF aims to track the price of Solana (SOL). This move comes as part of Bitwise’s broader expansion strategy and follows the firm’s remarkable 400% growth in assets under management (AUM) this year. Currently, Bitwise boasts at least $5 billion in assets under management (AUM).\nRecent acquisitions, such as Ethereum staking service Attestant, and the success of its BITB spot Bitcoin ETF highlight its aggressive growth trajectory. Of note is that Bitwise’s BITB has attracted $2.3 billion in inflows. Meanwhile, its Ethereum ETF (ETHW) now records $373 million in positive flows.\nBITB Cumulative Net Inflow. Source: SoSoValue\nDespite not yet disclosing a proposed ticker or exchange listing, Bitwise’s Solana ETF filing positions the firm alongside competitors like VanEck, 21Shares, and Canary Capital. These players have also sought to capitalize on Solana’s growing prominence, with VanEck likening Solana to commodities like Bitcoin and Ethereum in its filing.\n\n“Language in the Ethereum ETF 19b4s, describing ETH as a commodity works for Solana as well,” said Mathew Siegel, VanEck head of research.\n\nWhile the filing represents progress, the road to regulatory approval of a Solana ETF is fraught with challenges. The SEC has historically scrutinized crypto ETFs, citing concerns about market manipulation, custodial risks, and the classification of assets like Solana. Industry experts have expressed doubts about whether the SEC will greenlight a Solana ETF anytime soon, as seen in past filings where Solana’s status as a commodity has been questioned.\nMoreover, forms for Solana ETFs were previously removed from the CBOE (Chicago Board Options Exchange) due to unresolved regulatory concerns. This turbulence plunged the odds of approval to near zero earlier this year, sparking skepticism among market participants.\nRenewed Hope Under Trump Administration\nHowever, the tide appears to be turning following Donald Trump’s re-election, which many in the industry view as a potential catalyst for the crypto sector. Trump’s administration has signaled a pro-crypto stance, with experts suggesting that his policies could create a more favorable regulatory environment for ETFs like the one Bitwise has proposed.\nAccording to analysts, Trump’s commitment to fostering innovation and reducing bureaucratic barriers could allow the SEC to approve more crypto ETFs, including Solana-focused products.\n\n“The greatest Solana win coming from the new Trump Presidency will be our long-awaited ETF in 2025 or 2026. No surprise, the incredible VanEck team will lead the charge here with support from 21Shares and Canary Capital,” said Dan Jablonski, head of growth at news and research firm Syndica.\n\nIf the Solana ETF gains approval, it could mark a significant shift in the US regulatory environment. More closely, it would enable the country to catch up with nations like Brazil, which launched a Solana ETF earlier this year. Such developments could help the US solidify its position as a leader in the global crypto market.\nThe prospective approval of a Solana ETF under the Trump administration would have profound implications for the US crypto market. It could spark greater institutional adoption, drive innovation, and position the country as a leader in blockchain technology. \nMoreover, it would send a strong signal that the regulatory environment is becoming more accommodating to crypto, potentially attracting further investments, talent, and a possible XRP ETF, which Bitwise and Canary Capital are already front-running.\n\n“In addition to crypto index fund uplistings from Grayscale & Bitwise, there are currently spot ETF filings for SOL, XRP, and HBAR. Guessing at least one issuer takes a flier on ADA or AVAX ETF as well,” Nate Geraci said on X (Twitter).\n\nSOL Price Performance. Source: BeInCrypto\nAccording to BeInCrypto data, Solana’s powering token price is up by a modest 1.48% on this news. As of this writing, SOL is trading for $238.91.\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\nChain GPT\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\nCoinbase\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\n3Commas\n\n\n\n\n\n\n\n\nChain GPT","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485245113"}