Solana ETF Faces Third Filing While Bitwise Aims to Bring Dogecoin to Wall Street

Bitwise Files for Dogecoin ETF, Solana ETF Issuers Renew Approval Push

Bitwise has submitted an application for a Dogecoin Spot ETF, joining the growing list of firms seeking approval for cryptocurrency exchange-traded funds in the United States.

Meanwhile, issuers of Solana ETFs have made a third attempt at securing SEC approval. Analysts anticipate potential approval for Solana ETFs by late 2024, although Canada may launch them first due to a more favorable regulatory environment.

Bitwise's Dogecoin ETF Application

Bitwise, recognized as the world's largest crypto index fund manager in America, has filed an S-1 form with the SEC for its proposed Dogecoin Spot ETF. This follows the recent registration of a DOGE trust. The firm aims to introduce the popular memecoin to Wall Street.

Bloomberg ETF analyst noted that the filing was expected but approval is not guaranteed. He also emphasized that DOGE-related products may receive different treatment under the SEC's new administration.

Solana ETF Resubmission

The Chicago Board Options Exchange (Cboe) has re-filed 19b-4 forms for SOL ETFs from VanEck, Canary, Bitwise, and 21Shares. This marks the third attempt after previous applications were denied by the SEC.

Analysts predict potential approval by late 2024, although they believe that ETFs tied to Litecoin (LTC) and Hedera (HBAR) may receive approval first.

Purpose Investments and 3iQ Digital Asset Management have also filed for Solana ETFs in Canada. Historically, Canada has launched crypto products ahead of the U.S. due to its more lenient regulatory environment. However, the outlook remains uncertain due to the changing SEC administration.