Solana emerges as Preferred Chain for Tokenization,Despite ETF Decision Delay
New York,NY - Despite a recent dip in price and an impending SEC decision on its spot ETF,Solana (SOL) is rapidly gaining traction as the preferred blockchain for launching new stablecoins and tokenized assets,according to industry leaders. The network’s speed and cost-effectiveness are increasingly seen as advantages over Ethereum, even as Ethereum maintains a larger overall ecosystem.
Bitwise,a leading crypto asset management firm,is at the forefront of this trend,with its Physical Solana ETP already offering investors exposure to SOL. Though, the broader narrative extends beyond a single fund, as evidenced by Offchain labs’ Chief Strategic Officer, AJ Warner, who stated on Saturday, “TVL is definitely not everything, but I don’t think you can doubt where the best place to launch new stablecoins is. Build within the EVM.” This sentiment highlights a growing belief that Solana’s architecture is especially well-suited for the demands of tokenization.
The shift towards solana is driven by several factors. Bitwise CEO Hunter Horsley recently pointed to Solana’s faster unstaking period compared to Ethereum as a key advantage for staking exchange-traded funds (ETFs). “ETFs need to be able to return assets on a very short time frame. So this is a huge challenge,” Horsley explained at Token2049 in Singapore. This speed is crucial for meeting investor expectations in traditional finance.
Currently, Bitwise’s Solana ETP manages $30 million in assets. The firm also has a spot Solana ETF awaiting approval from the SEC, with a final decision expected on October 16. SOL was trading down 2% on the day at $227 at the time of writing, and remains over 22% below its January 2025 all-time high.
The increasing focus on Solana for tokenization represents a critically importent growth in the broader crypto landscape, potentially positioning the blockchain as a key infrastructure layer for the future of finance. While Ethereum continues to dominate in terms of total value locked (TVL) and established decentralized applications, Solana’s emerging strengths are attracting attention from both traditional and crypto-native firms.
