Bitwise has officially filed a registration statement on Form S-1 with the SEC for its Bitwise Solana ETF. This follows the establishment of a trust entity for the proposed fund in Delaware, as announced by the firm the previous day.
The trust’s administrator for the spot Solana ETF will be BNY, according to a filing from Nov. 21. Bitwise joins other asset managers like VanEck and 21Shares in pursuing Solana ETF products. VanEck filed an S-1 registration statement in June to launch the first spot Solana ETF in the US, while 21Shares followed suit with their own filing.
The SEC previously considered Solana and other digital assets, including Cardano (ADA) and Polygon (MATIC), as securities in its lawsuit against Binance and Coinbase. However, in a recent court filing, the agency stated that it will amend its complaint, meaning it is not currently seeking a determination on whether Solana is a security.
