Will Trump’s Policies Aid Approval?
Bitwise Asset Management has filed to set up its proposed Delaware trust Solana ETFs (Exchange Traded Funds). The move signals a renewed push to expand cryptocurrency offerings amid growing interest in blockchain-based assets.
The document represents the preliminary steps needed to launch the financial instrument. The consensus is that this could lead to a submission to the U.S. Securities and Exchange Commission (SEC) for approval.
Bitwise plans strategic expansion with Solana ETF
according to State Council Filingthe proposed Bitwise Solana ETF aims to track the price of Solana (Sol). The move is part of Bitwise’s wider expansion strategy and follows the company’s stellar performance 400% growth Assets under management (AUM) this year. Currently, Bitwise has at least $5 billion in assets under management (AUM).
latest acquisitionFor example Ethereum Staking The success of Attestant Services and its BITB Spot Bitcoin ETF highlights its positive growth trajectory. It is worth noting that Bitwise’s BITB has attracted US$2.3 billion in capital inflows. Meanwhile, its Ethereum ETF (ETHW) now Record Positive flow $373 million.
While a proposed ticker or exchange listing has not yet been disclosed, Bitwise’s Solana ETF filing sets the company apart from rivals such as Van Eyck, 21 sharesand Canary Capital. These players are also trying to capitalize on Solana’s growing popularity, VanEck compared Solana to commodities like Bitcoin and Ethereum in its filing.
“The language in Ethereum ETF 19b4s describing ETH as a commodity also applies to Solana,” explain Mathew Siegel, director of research at VanEck.
While the filing represents progress, the Solana ETF still faces a long road to regulatory approval full of challenges. The SEC has historically scrutinized crypto ETFs, citing concerns about market manipulation, custody risks, and the classification of assets like Solana. Industry experts have expressed Questions about whether SEC will approve Solana ETF Soon, as seen in past documents, Solana’s commodity status questioned.
Additionally, the table for the Solana ETF used to be Removed from CBOE (CBOE) due to unresolved regulatory issues. This turbulence The likelihood of approval is almost zero The move prompted skepticism from market participants earlier this year.
Trump administration revives hope
However, the tide seems to be turning Donald Trump’s re-electionwhich many industry insiders believe is a potential catalyst for the crypto industry. The Trump administration has taken a pro-crypto stance Experts suggest his policies could create a more favorable regulatory environment For the ETF proposed by Bitwise.
Analysts say Trump’s pledge to promote innovation and reduce bureaucratic hurdles could lead to the SEC approving more crypto ETFs, including Solana-focused products.
“The biggest win for Solana from a new Trump presidency will be our long-awaited ETF in 2025 or 2026. It’s no surprise that the incredible VanEck team, with support from 21Shares and Canary Capital, will be leading the charge.” explain Dan Jablonski, director of growth at news and research firm Syndica.
If the Solana ETF is approved, it could mark a major shift in the U.S. regulatory environment. Furthermore, this would allow the country to catch up with countries such as Brazil. Solana ETF launched earlier this year. These developments may help the United States solidify its position as the global cryptocurrency market leader.
Anticipated Approval of Solana ETF Trump administration It will have a profound impact on the U.S. cryptocurrency market. It can inspire greater institutional adoption, drive innovation, and position the country as a leader in blockchain technology.
Additionally, this would send a strong signal that the regulatory environment is becoming more accommodating to cryptocurrencies, potentially attracting more investment, talent, and potentially more investment and talent. Ripple ETFwhich bitwise and Canary Capital Already in the lead.
“In addition to the crypto index funds launched by Grayscale and Bitwise, there are currently spot ETF registrations SolXRP and HBAR. Speculation is that at least one issuer also bought the ADA or AVAX ETF,” Nate Geraci explain on X (Twitter).
According to BeInCrypto data, the price of Solana’s power token rose slightly by 1.48% due to this news. As of this writing, SOL is trading at $238.91.
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