Bitwise, a San Francisco-based financial services firm, is preparing for a Solana ETF after filing an XRP ETF with the SEC.
The Bitwise Solana ETF is designed to mirror Solana’s performance and is currently the fourth-largest cryptocurrency in market capitalization.
Bitwise's filing for a Solana ETF positions it alongside other asset managers also looking to capitalize on Solana's increasing importance.
Solana has shown significant growth and record-high daily revenues, becoming the fourth-largest cryptocurrency with a market capitalization of $116 billion.