Bitwise, America’s largest index fund supervisor, has introduced the itemizing of its Solana Staking ETP (BSOL) on Xetra, a Frankfurt-based inventory change.
The ETF gives publicity to the sixth-biggest cryptocurrency, which boasts a market cap of $103 billion.
Earlier this yr, Bitwise additionally launched staking ETPs for Ethereum and Aptos.
Bitwise CEO Hunter Horsley described Solana as one of many “rising star property” within the cryptocurrency area.
As reported by U.At present, a number of issuers, together with Bitwise and VankEck, have filed to launch spot-based Solana ETFs within the U.S. Nevertheless, the SEC not too long ago indicated that it was not going to approve these merchandise within the close to future.
Eric Balchuns, Bloomberg’s main ETF knowledgeable, not too long ago predicted that the SEC would possibly find yourself approving a Litecoin ETF a Solana ETF as a result of the truth that there’s nonetheless regulatory uncertainty surrounding the token. SOL was named by the SEC amongst unregistered securities within the SEC’s lawsuits in opposition to Binance and Coinbase.
Whereas it’s not clear when the SEC will approve ETFs tied to extra arcane cryptocurrencies like Solana, altcoin-based ETP merchandise have been round in Europe for years.
Earlier this yr, Bitwise bought main European ETP issuer ETC Group, which managed to record a Bitcoi ETP on the Deutsche Börse all the way in which again in 2020.