Bitwise has advanced its proposal to offer a Solana exchange traded fund (ETF) in the United States, marking it as the fourth company to file for such an ETF. Competitors include Canary Capital, VanEck, and 21Shares. This move comes amidst changing regulatory expectations, particularly with Donald Trump potentially returning to the White House, which could lead to a shift in the Securities and Exchange Commission's leadership and policies. Solana (SOL) has become significant in the current crypto market, especially among memecoin traders, and is nearing its all-time highs from late 2021. Bitwise already operates other ETFs valuable to the crypto space and is known for its willingness to pursue ETF applications for various digital assets. The filing is indicative of the growing interest in making Solana accessible to institutional investors, facilitated by paperwork submitted and partnership with Cboe as their exchange custodian. Bitwise currently manages $5 billion in assets, indicating its robust position in the crypto investment landscape.

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