In the shadowed corridors of Wall Street’s new gulags, a flicker of hope emerges as Bitwise dares to file its Form 8-A with the SEC-a bureaucratic gauntlet once reserved for dissidents, now wielded by crypto apostles.
On September 26, Bitwise’s Hunter Horsley, a modern-day Prometheus, declared the filing complete. This act-less a procedural step and more a ritual dance around the SEC’s iron throne-signals a tentative truce between innovation and regulators who still think the internet runs on fax machines. 📜
Other ETF Issuers: Penning Amendments Like Rebels Scribbling Manifestos 🖋️
Horsley’s admission stokes the fire of market optimists, who now whisper of a Solana ETF like conspirators plotting a revolution. Yet, the real drama unfolds in the margins: Grayscale and Franklin Templeton, once stoic, now amend documents with the urgency of poets revising their last wills.
Nate Geraci of Nova Dius Wealth, a sage of modern finance, claims these amendments might hasten the SEC’s review. “Two weeks,” he says, as if divine intervention were on the calendar. One wonders if the SEC’s mysterious timeline is a mere bureaucratic hiccup or a calculated delay to preserve the old order. 🤷♂️
James Seyffart, Bloomberg’s oracle, adds fuel to the fire: “Updated filings. Movement. Dialogue.” A rare moment where the regime’s own mouthpieces hint at cracks in the system. Or perhaps they’re just bored. 🕵️♂️
NEW: Updated filings for Solana ETFs. Signs of movement… or the SEC’s elaborate performance art.
– James Seyffart (@JSeyff) September 26, 2025
Beneath this paperwork ballet lies a deeper truth: institutions, those titans of capital, now stake their empires on Solana. The REX-Osprey fund, a June-born prodigy, has siphoned $300M like a vampire squid in a goldfish bowl. Meanwhile, Bitwise’s European ETP gorges on $60M weekly, proving even the most jaded investors crave a sliver of Solana’s future. 🦑
Market prophets nod sagely. Bitwise’s Matt Hougan, a latter-day Cassandras, declares Solana poised for an “epic end-of-year run.” He cites network activity and institutional herds-forces as predictable as a snowstorm in Siberia. Yet, in this fragile dance of capital, Solana’s size makes it a puppet of market whims. A $1.6B injection could send shockwaves through its $116B kingdom, a seismic tremor compared to Bitcoin’s $2.2T colossus. 🌪️
“Solana is but a speck compared to Bitcoin’s titan,” writes Hougan, “yet its fate hangs on threads thinner than a bureaucrat’s conscience.”
And so, the world watches. Will the SEC’s fortress crumble under the weight of progress, or will it double its guards and declare victory? Only time will tell, but in the meantime, let us toast to Bitwise’s audacity-and the absurdity of a system where freedom requires a 10-page form. 🥂
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2025-09-27 13:32