With Gary Gensler's impending exit, firms like Bitwise, VanEck, and Canary Capital are increasingly optimistic about Solana ETF approvals in 2025.

The race for a spot Solana ETF intensified Thursday as the Cboe BZX filed applications with the U.S. Securities and Exchange Commission on behalf of Bitwise, VanEck, 21Shares, and Canary Capital. These applications aim to list and trade shares tracking ...

Interestingly, Solana ( SOL 0.30%), Bonk ( BONK -5.96%), and Chainlink ( LINK 7.54%) are three of the key winners driving a significant percentage of these gains. These three tokens are up 11.8%, 14.3%, and 5.3%, respectively, since 4 p.m. ET Friday.

Bitwise has taken the first step out of many in applying to issue a Solana ($SOL) ETF, propelling the $SOL token above $240 as the established crypto ETF issuer has become the third mover in what could be the country's first Solana ETF.