Quick Takeaways:
- Bitwise has filed Form 8-A, a big step toward launching a Spot Solana ETF
- Grayscale and Franklin Templeton are also actively updating their filings
- Institutional interest in Solana is heating up, with millions flowing into SOL-based funds
Spot Solana ETF Momentum Builds With Bitwise SEC Filing
Bitwise is turning up the heat on launching the first Spot Solana ETF in the U.S. This week, CEO Hunter Horsley announced that the firm has filed a Form 8-A with the SEC, a key regulatory step that usually signals a product is nearly ready to trade.
Now, to be clear, this doesn’t mean the ETF goes live tomorrow. But it does mean we’re getting closer.
What’s more, Bitwise isn’t alone in pushing for a Solana ETF.
Heavy hitters like Grayscale and Franklin Templeton are also revising their applications with the SEC. That kind of coordinated effort usually means conversations are happening behind closed doors, and they’re serious.
Nate Geraci, who leads ETF firm Nova Dius Wealth, believes these moves could speed things up.
ETF analyst James Seyffart agrees, pointing to all this activity as a sign that the SEC is actively working with issuers.
So, if things continue on this track, we could be looking at approvals in just a few weeks.
Why Everyone’s Suddenly Interested in a Spot Solana ETF
The excitement around a Spot Solana ETF isn’t just about getting another crypto fund on the market; it’s about meeting real demand.
Back in June, the REX-Osprey Solana Staking ETF launched and pulled in over $300 million almost instantly.
That’s no small feat, especially for a new product. At the same time, Bitwise just revealed it brought in $60 million for its European Solana ETP in just one week.
Clearly, institutional investors want Solana exposure, and they want it through regulated, familiar channels.
Matt Hougan, Bitwise’s CIO, says the stars are aligning for Solana to have a strong end to the year. He pointed out that the network is seeing a lot of activity, and big investors are finally getting involved.
Plus, there’s a numbers game in play here. Solana’s market cap is a fraction of Bitcoin’s or Ethereum’s, about $116 billion compared to Bitcoin’s $2.2 trillion and Ethereum’s $519 billion.
That means when fresh capital flows into Solana, it can move the price a lot faster. Hougan says that a $1.6 billion inflow into Solana could move the market as much as a $30 billion inflow would for Bitcoin.
That’s why a Spot Solana ETF isn’t just exciting, it’s potentially game-changing.
What Happens Next for the Spot Solana ETF?
Right now, all eyes are on the SEC. If the agency signs off, we could see a Spot Solana ETF hit the market very soon, possibly within weeks, if insiders are right.
Until then, expect to see a lot more headlines around filings, approvals, and maybe even last-minute changes from issuers trying to get a leg up.
Once approved, the first Solana ETFs will need to decide how they’re structured, things like management fees, how they store the SOL, and which exchange they’ll trade on.
But here’s the bigger picture: once these ETFs go live, it’ll be easier than ever for both institutions and retail investors to gain exposure to Solana without needing to buy or store the actual crypto themselves. And that’s exactly what could unlock the next wave of capital.
Why This Moment Matters for Solana and the Crypto Market
Crypto ETFs are no longer a pipe dream. With spot Bitcoin ETFs already trading, and Ethereum ETFs in motion, it’s clear the SEC is more open to crypto funds than ever before.
If the Spot Solana ETF gets the green light, it could cement Solana as one of the core assets in mainstream crypto investing.
That’s great news for Solana bulls. It’s also a big deal for the broader market, which is watching to see how far the ETF wave will go.
