Donald Trump

Gary

<ul> 
 <li aria-level="1">Current SEC regulations under Chairman Gary Gensler present challenges; only Bitcoin recognized as a commodity by SEC.</li> 
 <li aria-level="1">Potential regulatory shifts expected with Donald Trump’s presidency, promising a more crypto-friendly SEC leadership starting 2025.</li> 
</ul> 
Bitwise Investment has formally filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a Solana-based Exchange-Traded Fund (ETF), marking a significant step as it seeks to capitalize on the growing interest in diverse cryptocurrency investments.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 INTEL: BITWISE <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> ETF REGISTERED IN DELAWARE <a href="https://t.co/4uv5Y6eQuE">pic.twitter.com/4uv5Y6eQuE</a> 
 — Solid Intel <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4e1.png" alt="📡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@solidintel_x) <a href="https://twitter.com/solidintel_x/status/1859344897746116925?ref_src=twsrc%5Etfw">November 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Filed in Delaware, this initiative indicates Bitwise’s strategic move to integrate Solana, currently the fourth largest cryptocurrency by market capitalization, into its suite of investment products. 
This application emerges amidst a competitive atmosphere where several asset managers, including prominent names like VanEck and Canary Capital, have proposed similar <a href="https://www.ethnews.com/experts-reveal-why-solana-etfs-might-never-happen-shocking-insights/">Solana ETFs</a>. 
This collective move underscores a broader industry push towards expanding regulated investment vehicles within the cryptocurrency space beyond the confines of Bitcoin, which remains the sole crypto commodity officially recognized by U.S. regulators. 
Despite these efforts, the path to regulatory approval remains laden with challenges, particularly under the current SEC leadership. The strict regulatory approach championed by SEC Chairman Gary Gensler has been a point of contention, casting a pall of regulatory uncertainty over the future of cryptocurrency ETFs. 
President-elect Donald Trump has indicated a potential overhaul of the SEC’s leadership, explicitly stating intentions to replace <a href="https://www.ethnews.com/president-elect-trump-considers-replacing-gensler-with-crypto-friendly-candidates-to-foster-a-favorable-environment-for-digital-assets/">Gensler</a>. This change is anticipated to introduce a more crypto-friendly stance within the SEC, potentially enhancing the prospects for approval of <a href="https://www.ethnews.com/new-solana-etf-application-filed-by-canary-capital-as-vaneck-still-in-play/">Solana ETFs</a> and broadening the scope for other digital asset ETFs. 
The industry is abuzz with speculation about potential candidates for the new SEC chair and their likely impact on digital asset regulation. 

<div class="cryptoboxes" id="mcw-12347" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="SOL" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
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Solana (SOL) is currently priced at $235.83 USD, with a 0.85% decline in the last 24 hours. Over the past 7 days, it has gained 9.50%, indicating a strong recovery trend. 
<figure id="attachment_106592" aria-describedby="caption-attachment-106592" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-106592" src="https://www.ethnews.com/wp-content/uploads/2024/11/SOL_1M_graph_coinmarketcap.jpeg" alt="SOL_1M_graph_coinmarketcap" width="1200" height="800">
 <figcaption id="caption-attachment-106592" class="wp-caption-text">
 Source: Coinmarketcap
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 Solana’s market cap stands at $111.93 billion USD, ranking it as the 4th largest cryptocurrency by market capitalization. The 24-hour trading volume is approximately $8.81 billion USD, reflecting robust market activity and liquidity. 
The post <a href="https://www.ethnews.com/bitwise-files-for-first-solana-etf-amidst-growing-crypto-investment-trends/">Bitwise Files for First Solana ETF Amidst Growing Crypto Investment Trends</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Bitwise Files for First Solana ETF Amidst Growing Crypto Investment Trends

ETHNews

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