Bitwise Advances Solana ETF Efforts With Key Form 8-A Filing
Spot Solana exchange-traded funds (ETFs) seem nearer to hitting the market following Bitwise’s newest submitting with the US Securities and Exchange Commission (SEC).
On September 26, Bitwise CEO Hunter Horsley revealed that the agency had filed its Form 8-A with the SEC. This submitting represents a key procedural step that permits an ETF to start buying and selling as soon as approval is granted.
Other Solana ETF Issuers Make Further Amendments With SEC
Horsley’s disclosure reinforces rising market optimism that a spot Solana ETF is probably not far off.
Meanwhile, the transfer follows a wave of amendments from multiple issuers, including Grayscale and Franklin Templeton. These updates sign intensified engagement between asset managers and the monetary regulator.
Nate Geraci, president of ETF advisory agency Nova Dius Wealth, stated these amendments might speed up the SEC’s review process.
Considering this, he believes the regulator might subject approvals inside two weeks, which might align with the monetary regulator’s timeframe.
Bloomberg ETF analyst James Seyffart echoed this view, including that this coordinated exercise factors to lively dialogue between issuers and the SEC.
Meanwhile, this surge in exercise follows rising institutional urge for food for Solana-linked funding merchandise.
The REX-Osprey Solana Staking ETF, launched in June as the primary Solana-focused fund within the US, has already attracted over $300 million in inflows.
Similarly, Bitwise disclosed $60 million of recent capital getting into its European Solana Staking ETP this week, underscoring investor conviction in Solana’s long-term potential.
Market specialists famous that this inflow of institutional capital might have a significant influence on Solana’s market performance.
Bitwise Chief Investment Officer Matt Hougan stated Solana “has all of the components for an epic end-of-year run.” He pointed to the community’s robust exercise and rising institutional participation as key drivers for its potential progress.
Moreover, Hougan famous that Solana’s measurement makes it extra delicate to new capital, which might considerably influence its costs.
“As of September 7, bitcoin’s market cap was $2.22 trillion, Ethereum’s market cap was $519 billion, and Solana’s market cap was $116 billion. In different phrases, Solana is 1/twentieth the dimensions of bitcoin and fewer than 1/4th the dimensions of Ethereum,” he wrote.
Considering this, he defined {that a} $1.6 billion investment in Solana publicity might have the identical market influence as over $30 billion getting into Bitcoin.
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