The launch of a Solana native token (SOL) spot ETF could be the next big move in the Cryptocurrency sector. Recently, Bitwise, a prominent financial firm, filed an application for an exchange-traded fund (ETF) based on this digital currency. With this action, it joins companies such as Canary Capital and VanEck, which have been waiting to launch a financial product backed by SOL.
Solana has established itself as one of the fastest growing Blockchain networks, driven by its capacity for innovation and its robust technological infrastructure. The network is known for its scalability and efficiency, characteristics that make it one of the most attractive options within the crypto ecosystem.
Thanks to these attributes, Solana has captured the attention of institutional investors and key players in the traditional financial sector. Its potential to attract capital in a mass adoption scenario positions SOL as a high interest asset. In this context, firms such as Bitwise, Canary Capital and VanEck are already preparing the ground to offer their clients the opportunity to invest in this asset as early as possible.
According to a recent filing with the State of Delaware Division of Corporations, Bitwise formally applied to create a Solana ETF. This is just the first step in a process that will require approval from the United States Securities and Exchange Commission (SEC).
Bitwise prepares for a Solana ETF. Source: Icis Corp Delaware
Will 2025 be the year of Solana ETFs in the United States?
The current outlook suggests that several cryptocurrency-based spot ETFs, including SOL, could be launched in 2025. Following the arrival of similar products for Bitcoin and Ethereum, analysts are speculating on which will be the next asset to follow this path. Although Solana is a strong candidate, XRP, Ripple’s token, also has a high probability.
Ripple has been involved in one of the most notorious legal battles in the recent history of the United States financial markets. Since 2020, the SEC has accused the company of trading unregistered securities. Despite these challenges, Ripple has made significant progress in the courts and is emerging as a strong contender to gain approval for an ETF.
The possibility of SOL or XRP leading this new wave of ETFs raises expectations among investors. In addition, Donald Trump’s administration has proposed initiatives to establish a clear regulatory framework for cryptocurrencies, along with a reform of the leadership of the SEC. This change could accelerate the integration between traditional finance and digital assets.
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