Yigit Taha OZTURK 
Digital asset management firm Bitwise has registered a legal trust in Delaware for a proposed Solana spot ETF (exchange-traded fund). This move indicates that Bitwise plans to file an application with the U.S. Securities and Exchange Commission (SEC) to seek approval for the ETF.
According to the Delaware Division of Corporations’ website, the Bitwise Solana ETF was established on November 20. The CSC Delaware Trust Company, based in Wilmington, Delaware, is listed as the registered agent. For approval, Bitwise will need to submit a 19b-4 filing and an S-1 registration statement to the SEC.
In October, Bitwise registered an XRP spot ETF in Delaware and submitted an S-1 form to the SEC the following day. If approved, the Bitwise Solana ETF will aim to track the price movements of Solana, currently the fourth-largest cryptocurrency by market cap.
While it’s unclear which exchange the Solana ETF would trade on, Bitwise’s Bitcoin and Ethereum ETFs are listed on NYSE Arca. The proposed ticker symbol for the Solana ETF has yet to be disclosed.
Solana and Market Outlook
Matthew Sigel, Head of Digital Asset Research at VanEck, expressed optimism about a Solana ETF being approved in the U.S. by the end of 2025, citing expectations of a more crypto-friendly regulatory environment under a potential Trump administration. However, many analysts believe that Solana ETF inflows may lag behind Bitcoin and Ethereum ETFs.
Solana experienced a 2,360% surge during its last bull cycle, reaching an all-time high of $236.91. However, it has been one of the worst performers among large-cap coins during the bear market and has yet to reach a new all-time high in this cycle.
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