Crypto asset manager Bitwise has filed for a Solana (SOL) exchange-traded fund (ETF).
Paperwork filed with the Securities and Exchange Commission (SEC) makes Bitwise the fourth investments company vying to offer a Solana ETF, behind Canary Capital, which filed in October and VanEck and 21Shares which kicked off the race in June.
Bitwise already offers a variety of ETFs tracking BTC and ETH, the two cryptoassets generally treated as commodities in the US.
ETFs are investment vehicles that trade on stock exchanges and give investors exposure to an underlying asset.
SOL is now trading for just over $255, which maket its market cap equal to ~$120 billion, according to CoinMarketCap data.