Bitwise’s spot Solana ETF is experiencing sustained investor interest even as broader market trends show Bitcoin and Ethereum ETFs shedding assets,according to recent data. The Solana ETF (ticker: BITC) has maintained steady demand since launching earlier this month, offering a potential diversification play for crypto investors.
The emergence of altcoin ETFs like Bitwise’s Solana fund follows the SEC’s approval of spot Bitcoin and Ethereum ETFs in January,and a subsequent rule change allowing for similar funds focused on other cryptocurrencies. While initial fervor for Bitcoin and Ethereum ETFs has cooled slightly, with outflows observed in recent weeks, the Solana ETF’s resilience suggests continued appetite for exposure to alternative digital assets. This growth coudl signal a broadening of investor interest beyond the two largest cryptocurrencies, potentially paving the way for further altcoin ETF launches.
Last week, spot Litecoin and Hedera funds from Canary began trading after Nasdaq certification of their 8-A submissions, indicating the SEC rule change is actively enabling new fund availability. Bitwise recently removed a “delaying amendment” from its S-1 prospectus for its spot Dogecoin ETF, potentially clearing the path for trading within 20 days if the SEC doesn’t object.
“Looks like Bitwise is doing the 8(a) move for their spot Dogecoin ETF, which basically means they plan on going effective in 20 days barring an intervention,” Bloomberg ETF analyst Eric Balchunas wrote on X (formerly Twitter) thursday.
