Bitwise Files to Launch a Solana ETF

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Bitwise, a crypto asset manager, has officially submitted a registration statement on Form S-1 to the SEC for its proposed Bitwise Solana ETF.

This follows their establishment of a trust entity for the fund in Delaware. BNY will serve as the trust’s administrator for the ETF, according to a filing from Nov. 21.

Bitwise is now part of other asset managers, such as VanEck and 21Shares, that are also pursuing Solana ETF products. VanEck filed an S-1 registration in June to launch the first spot Solana ETF in the US, and 21Shares has also filed with the SEC for a spot Solana ETF that will track the asset’s performance on the Cboe exchange.

The SEC had previously identified Solana, as well as other digital assets like Cardano and Polygon, as securities in its lawsuit against Binance and Coinbase. However, the agency has now stated its intent to amend its complaint, meaning they are not currently pursuing a determination on Solana’s security status in the lawsuit.