Bitwise CEO Hunter Horsley has revealed his expectations regarding the agency’s U.S. Solana ETF.
Horsley had acknowledged in a latest X put up that Europe’s Bitwise Solana staking ETP noticed $60 million in inflows this week. “Solana on individuals’s minds,” Horsley mentioned.
Reacting to this put up, an X person requested the Bitwise CEO about his projection of inflows for the corporate’s U.S. Solana ETFs put up approval. Horsley responded, “$1 trillion first day,” including “second day is anybody’s guess,” highlighting rising institutional demand for Solana publicity.
A number of functions for Solana exchange-traded funds (ETFs) with staking may obtain U.S. approval by mid-October, Nate Geraci, the president of NovaDius Wealth Administration, predicts following new filings.
Geraci famous that asset managers, together with Bitwise, have filed amended S-1 paperwork for spot Solana ETFs to the U.S. Securities and Change Fee (SEC) on Friday. The S-1 doc is a complete disclosure outlining the corporate’s financials, threat profile and the securities they intend to supply.
“One other flurry of S-1 amendments filed at this time on spot sol ETFs… Franklin, Constancy, CoinShares, Bitwise, Grayscale, VanEck, & Canary consists of staking (sure, bodes effectively for spot eth ETF staking). Guessing these are permitted [within the] subsequent two weeks,” Geraci mentioned.
Prepare for October?
Geraci indicated that October might be important for the crypto market, pointing to latest developments out there, resembling the primary Hyperliquid ETF submitting, and the SEC’s approval of generic itemizing requirements for crypto ETFs.
“Prepare for October,” Geraci mentioned. Expectations stay up for October, thought of bullish for cryptocurrencies.
On the time of writing, Solana was down 2.81% within the final 24 hours to $196 and 19% weekly because the crypto market noticed a sell-off this week in response to macroeconomic issues.