Bitwise, a leading asset management firm, has intensified efforts to gain SEC approval for a spot Solana ETF by registering a trust in Delaware.
Trust Registration for Solana ETF
Bitwise has registered a trust for the proposed SOL ETF in Delaware. This is a significant step toward gaining approval from the Securities and Exchange Commission (SEC).
Solana Market Status
The price of SOL is nearing its all-time high of $260. At the time of publication, Solana is valued at $230.96, which is an 11.19% decline from its peak. Solana's market capitalization stands at $110 billion, making it the fourth-largest digital asset.
Bitwise Competitors in ETF Race
Bitwise is expected to join the race for a spot Solana ETF alongside VanEck and Canary Capital. Reports from Delaware’s Division of Corporations reveal that Bitwise incorporated its trust on November 20th, listing CSC Delaware Trust Company as its registered agent.
It is worth noting that competition in the race for spot Solana ETF approval is intensifying, and Bitwise is making significant steps towards achieving this goal.
