随着加密货币基金市场升温，Bitwise 竞相上线 Solana 现货 ETP

Cboe BZX 交易所刚刚申请上市 Bitwise 资产管理公司的现货 Solana ETP。 Bitwise 现在加入 VanEck 和 Canary Capital 的行列，共同争夺 SEC 的批准。

The Cboe BZX Exchange filed to list a spot Solana exchange-traded product (ETP) from Bitwise Asset Management on Friday. The filing marks a significant development in the crypto industry, as Bitwise joins VanEck and Canary Capital in the race for U.S. SEC approval for a Solana (SOL) exchange-traded fund (ETF).

Cboe BZX 交易所于周五提交了 Bitwise 资产管理公司的现货 Solana 交易所交易产品 (ETP) 上市申请。该文件标志着加密行业的重大发展，Bitwise 与 VanEck 和 Canary Capital 一起争夺美国 SEC 批准 Solana (SOL) 交易所交易基金 (ETF)。

The proposed ETP will directly hold SOL, the native token of the Solana blockchain and the third-largest crypto asset in the world. The ETP will initially operate as a cash-settled product, but Bitwise aims to eventually transition the product to a physically backed structure, allowing investors to directly own SOL tokens, making it a truly unique investment vehicle.

拟议的 ETP 将直接持有 SOL，它是 Solana 区块链的原生代币，也是世界第三大加密资产。 ETP 最初将作为现金结算产品运作，但 Bitwise 的目标是最终将该产品转变为实物支持结构，允许投资者直接拥有 SOL 代币，使其成为真正独特的投资工具。

The move comes as the crypto market rebounds from recent lows, driven by Bitcoin’s rallies, and signals a transformative phase for the crypto industry. As major investment firms like Grayscale and Bitwise introduce crypto index funds and spot ETFs for large cap assets, and SOL-linked ETFs are already trading in Europe on platforms like Euronext and Skeptra, highlighting the growing appetite for altcoin-focused funds.

此举正值加密市场在比特币上涨的推动下从近期低点反弹之际，标志着加密行业进入了变革阶段。随着 Grayscale 和 Bitwise 等主要投资公司推出针对大盘资产的加密指数基金和现货 ETF，与 SOL 相关的 ETF 已经在欧洲泛欧交易所和 Skeptra 等平台上进行交易，凸显了人们对以山寨币为主的基金的兴趣日益增长。

However, skepticism remains in the U.S. market due to regulatory hurdles and the absence of a futures market for Solana. Approvals for spot Bitcoin and Ethereum ETFs were largely aided by the existence of futures markets, which addressed concerns about fraud and market manipulation.

然而，由于监管障碍以及 Solana 缺乏期货市场，美国市场仍然存在怀疑。现货比特币和以太坊 ETF 的批准在很大程度上得益于期货市场的存在，这解决了对欺诈和市场操纵的担忧。

The U.S. Securities and Exchange Commission (SEC) has expressed apprehension about altcoin ETFs, citing the potential for abuse in markets without established futures mechanisms. Experts believe that introducing a Solana futures ETF could serve as a precursor to securing spot ETF approval.

美国证券交易委员会 (SEC) 对山寨币 ETF 表示担忧，理由是在没有建立期货机制的市场中可能存在滥用行为。专家认为，推出 Solana 期货 ETF 可以作为获得现货 ETF 批准的先兆。

Another major hurdle is Solana’s classification as a security under certain conditions. Unlike commodities like Bitcoin or Ethereum, securities require adherence to stricter disclosure and reporting standards. This classification complicates the approval process, as ETFs linked to securities must meet heightened regulatory requirements.

另一个主要障碍是 Solana 在某些条件下被归类为证券。与比特币或以太坊等商品不同，证券需要遵守更严格的披露和报告标准。这种分类使审批过程变得复杂，因为与证券挂钩的 ETF 必须满足更严格的监管要求。

However, the landscape could shift with changes in U.S. political and regulatory leadership. A crypto-friendly administration, coupled with a new SEC chair open to innovation, might redefine the framework governing altcoin ETFs. Analysts suggest that rising institutional interest in Solana and evolving policies could create a favorable environment for its ETF approval.

然而，随着美国政治和监管领导层的变化，情况可能会发生变化。对加密货币友好的政府，再加上对创新持开放态度的新 SEC 主席，可能会重新定义管理山寨币 ETF 的框架。分析师表示，机构对 Solana 兴趣的上升和不断变化的政策可能为其 ETF 的批准创造有利的环境。