As part of these developments, crypto investment firm Bitwise filed with the U.S. Securities and Exchange Commission (SEC) on Thursday to offer a Solana-focused exchange-traded fund (ETF). This step is seen as an extension of the firm’s strategy to attract more investors in the crypto market.

Bitwise ranks fourth among firms aiming to offer Solana ETF. It had previously applied for 21Shares with Canary Capital in October and VanEck in June. This development comes at a time when Trump’s return to the White House is reshaping expectations in the crypto industry.

Current SEC Chairman Gary Gensler is expected to resign when Trump takes office on January 20, 2025. With the new administration, it is predicted that changes in regulations affecting the crypto market may accelerate.

Bitwise’s planned Solana ETF aims to make the SOL token more accessible to investors. The Solana network serves a similar role to Ethereum’s ETH, with the SOL token supporting transactions.

Bitwise currently offers several ETFs that track crypto assets such as Bitcoin (BTC) and Ethereum (ETH). The company is taking a bold approach with its ETF applications for more controversial assets such as XRP. Now, it plans to take a similar step for the token of a rapidly growing network like Solana.

Solana has become one of the stars of the bull run, becoming a major trading hub among memecoin traders throughout 2023.

SOL token is close to all-time highs recorded during the great bull market at the end of 2021. Solana’s growing popularity makes Bitwise’s ETF offering attractive.

Bitwise announced its Solana ETF plans with a corporate filing in Delaware. While the company’s Chief Investment Officer, Matt Hougan, confirmed the validity of the application, he did not comment further on the matter.

Bitwise is known for its heavy marketing efforts towards registered investment advisors in the U.S. and reported having $5 billion in assets under management as of last month.

Cboe, a key partner in the ETF application process, released the 19b-4 forms required for four applications on Thursday. However, the other important document required for the ETF launch, Bitwise’s S-1 form, has not yet been made public.

With the Trump administration, faster and positive changes in crypto regulations are expected. This represents a huge opportunity not only for Solana ETF applications, but also for the crypto industry as a whole.

While Solana’s star continues to shine, Bitwise’s ETF initiative aims to bring crypto investments to a wider audience. This could be an important turning point for both individual and institutional investors.