Bitwise Advances with Plans for a Solana-Based ETF in Delaware
by aria-crypto.com
November 21, 2024 at 01:41
Bitwise Advances with Plans for a Solana-Based ETF in Delaware
Digital asset management company Bitwise has initiated the establishment of a statutory trust for a Solana exchange-traded fund (ETF) in Delaware, signaling potential plans to pursue registration with the U.S. securities authorities. This move came after Bitwise registered a similar ETF for XRP earlier, showcasing their expanding interest in cryptocurrency-based financial products. The trust, featuring Solana’s price movements, reflects the growing institutional confidence in blockchain technologies as investment vehicles. Approval and listing details are pending, but the expectation among industry experts, like VanEck’s Matthew Sigel, is optimistic, predicting a favorable regulatory environment conducive to such innovative financial tools by 2025. This development positions Bitwise alongside major players in the market, potentially accommodating more substantial investment flows into the cryptocurrency sector.
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