Spot Solana Exchange-Traded Funds (ETFs) seem closer to reaching the market after the newest request from Bitwise to the US Securities and Exchange Commission (SEC).
On September 26, Bitwise CEO Hunter Horsley revealed that the company had submitted its form 8-a to the SEC. This application represents an important procedural step with which an ETF can start acting once approval has been granted.
Other Solana ETF -Emitents make further changes with SEC
Horsley’s disclosure reinforces the growing market optimism that a place Solana ETF may not be far away.
In the meantime, the movement follows a wave of amendments from several emennials, including Grayscale and Franklin Templeton. These updates signals intensified involvement between asset managers and the financial regulator.
Nate Geraci, president of ETF consultancy firm Nova Dius Wealth, said that these changes could accelerate the assessment process of the SEC.
In view of this, he believes that the supervisor could give approvals within two weeks, which would be in line with the period of the financial regulator.
Bloomberg ETF analyst James Seyffart repeated this vision and added that this coordinated activity indicates an active dialogue between emitting and the sec.
In the meantime, this increase in activity is following the growing institutional appetite for Solana-linked investment products.
The Rex-Esprey Solana strike ETF, launched in June as the first Solana-oriented fund in the US, has already attracted more than $ 300 million in inflow.
Likewise, BitWise unveiled $ 60 million new capital that came in his European Solana Solana Solvation ETP this week, which underlines the conviction of investors in the long -term potential of Solana.
Markt experts noted that this inflow of institutional capital could have a meaningful impact on the market performance of Solana.
Bitwise Chief Investment Officer Matt Hougan said that Solana has “all the ingredients for an epic end -of -year run.” He pointed to the strong activity of the network and the growing institutional participation as important factors for potential growth.
Moreover, Hougan noted that the size of Solana makes it more sensitive to new capital, which could significantly influence prices.
“From September 7, the market capitalization of Bitcoin was $ 2.22 trillion, the market capitalization of Ethereum was $ 519 billion, and the market capitalization of Solana was $ 116 billion. In other words, Solana is 1/20 the size of Bitcoin and less than 1/4th the size of Etheum, he wrote.
In view of this, he explained that an investment of $ 1.6 billion in Solana could have the same market effect as more than $ 30 billion that comes in Bitcoin.
The BitWise post promotes Solana ETF efforts with key form 8-a-induction first appeared on Beincrypto.
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