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Заголовок Bitwise’s Matt Hougan Remains Bullish on ETF Prospects for Solana and Meme Coins
Дата 20240917

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============= Обработанный текст:
Bitwise’s Matt Hougan Remains Bullish on ETF Prospects for Solana and Meme Coins

Despite the uncertain regulatory environment, Matt Hougan, Chief Investment
Officer at Bitwise, remains optimistic about the future of exchange-traded
funds (ETFs) for Solana and meme coins. His confidence endures even as the US
Securities and Exchange Commission (SEC) has shown reluctance for these
investment products.

Earlier this year, the SEC’s approval of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs ignited
hopes for other cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта to follow. However, the stance on Solana has
not been as favorable.

Bitwise Remains Excited About Solana ETFs

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In August, the SEC turned down the Chicago Board Options Exchange’s filings
for two potential Solana spot ETFs, dampening immediate prospects for their
approval. This decision followed in-depth discussions on whether Solana should
be classified as a security .

Read more: Solana ETF Explained: What It Is and How It Works

Despite these challenges, Hougan is undeterred.

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“[SEC] sort of summarily rejected the first two applications [for Solana
ETFs]. That doesn t mean the door is closed. Remember, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs were
rejected for ten years, and it was worth the wait,” Hougan stated .

His optimism is supported by Bitwise s approach to SEC filings, which
typically include comprehensive data aimed at showcasing market stability and
protections against manipulation.

We re very excited about the Solana ecosystem. We think it s
robust. So we re doing the work on that and on certain other assets. The
timing of when we re filing them, it just depends on how fast we get
through that work and what we find,” Hougan said in a video interview.

To date, only VanEck and 21Shares have filed for Solana spot ETFs. Hougan
indicates that Bitwise may soon join this group, taking additional time to
align with the SEC’s stringent demands.

Moreover, Hougan is optimistic about the wider adoption of ETFs for various
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта. He believes the European success, where exchange-traded
products (ETPs) have given investors secure, low-cost access to digital
assets, can be mirrored in the US.

Finally, Hougan believes that the crypto industry has entered an ETF era. He
states that it is much harder to go from zero to one, i.e., getting approval
for the first Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETF. But it s relatively easier to go from one to
100.

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Read more: 11 Top Solana Meme Coins to Watch in September 2024

Additionally, Hougan s positive outlook extends to meme coins,
traditionally viewed with skepticism due to their volatile nature. Although
not currently fitting into Bitwise s framework, he sees potential for
meme coin ETFs.

“Many ETFs exist as trading tools and are widely used. Why not allow people to
gain exposure to meme coins in a secure, familiar ETF package? Broadly
speaking, I think that would be great. he proposed.

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