Bitwise Moves Closer to Solana ETF Launch with Form 8-A Filing

TLDR

• Bitwise has filed its Form 8-A with the SEC, advancing its efforts to launch a spot Solana ETF.
• The filing follows amendments from other asset managers, signaling stronger engagement with the SEC.
• Experts believe the SEC may approve Solana ETFs within two weeks due to the growing activity.
• Institutional interest in Solana products has surged, with the REX-Osprey Solana Staking ETF attracting over $300 million.
• Bitwise’s European Solana Staking ETP has seen $60 million in new capital inflows this week.

Bitwise has taken a significant step toward launching a spot Solana ETF by filing its Form 8-A with the US SEC. This move comes amid growing optimism about the approval of Solana ETFs. It marks an essential procedural step, allowing the firm to proceed once the SEC grants approval.

Increased Activity Among Asset Managers

The filing follows a series of amendments made by other major issuers, including Grayscale and Franklin Templeton. These amendments show the growing interest of asset managers in Solana ETFs. This surge in activity signals stronger engagement with the SEC, which could help accelerate the review process.

Nate Geraci, president of ETF advisory firm Nova Dius Wealth, believes the SEC could approve Solana ETFs within two weeks.

Meanwhile, Bloomberg ETF analyst James Seyffart added that this coordinated effort reflects ongoing talks between issuers and the SEC.

Institutional Capital Boosts Solana ETFs

Institutional interest in Solana-linked products has surged, with the REX-Osprey Solana Staking ETF already attracting over $300 million. The momentum continues as Bitwise reports $60 million in new capital for its European Solana Staking ETP. This growth in institutional participation highlights the confidence in Solana’s long-term prospects.

Bitwise Chief Investment Officer Matt Hougan emphasized Solana’s potential, stating,

The network’s increasing activity and institutional involvement are key drivers of its growth. Hougan further noted that Solana’s relatively small market cap amplifies the impact of new capital inflows.

Solana’s market cap stands at $116 billion, making it more responsive to fresh investments. Hougan explained that a $1.6 billion investment in Solana could mirror the effect of over $30 billion entering Bitcoin.

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