Bitwise Sells $26 Million Worth of Solana to Coinbase, Spark Speculation about ETFs

Crypto exchange Coinbase received a large influx of Bitwise’s Solana holdings, after the firm withdrew 192,865 SOL worth $26.39 million. This move has sparked speculation regarding the potential launch of Bitwise’s Solana ETF (BSOL). Bitwise is believed to be preparing for a more active engagement with its Solana ETF. Blockchain analytics platform Lookonchain confirmed the transaction. Experts believe this signifies institutional confidence in Solana and could suggest Bitwise is building up reserves for future trading or management activities related to the ETF.