news 
Bitwise Launches Solana Staking ETP in Europe Amidst US Regulatory Challenges
Despite the uncertainty surrounding staking rewards in the United States, Bitwise has decided to launch a Solana staking ETF (Exchange-Traded Product) in Europe. The move is seen as a significant development in the world of decentralized finance, considering the recent regulatory hurdles faced by similar products in the US market.
As previously reported, the current American submission process excludes staking rewards due to concerns over securities regulations. However, with Paul Atkins set to take over as Chairman of the Securities and Exchange Commission (SEC) in January, there is a possibility that staking rewards might not be classified as securities, potentially paving the way for their inclusion in US-based ETFs.
The European launch of the Solana staking ETF could have significant implications for spot ETF issuers. These companies may choose to restructure their offerings to include staking rewards and utilize their existing infrastructure in Europe to do so. This would enable them to circumvent potential regulatory challenges in the US market, at least temporarily.
Solana’s recent performance has not lived up to expectations, with its price rising only 1.61% compared to Bitcoin’s 17.49% and Ethereum’s 26.96%. Despite this, significant traders remain optimistic about Solana’s future prospects, citing long-term indicators and historical patterns that suggest potential for substantial growth.
As of now, Solana is trading at $218, having dropped by 1.42% over the past 24 hours.
This article is provided for informational purposes only and is not intended as investment advice. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.
Source: http://www.crypto-news-flash.com
