Solana ETF Sparks Debate: Bitwise CEO Addresses Community Concerns
Bitwise’s recent launch of a Solana Staking ETF on the New York Stock Exchange has ignited discussions within the crypto community, particularly among Ethereum enthusiasts. The move, and accompanying statements, have prompted a response from Bitwise CEO Hunter Horsley regarding the firm’s perceived shift in focus.
Prioritizing Solana in the ETF Race
Before the ETF’s listing, Horsley highlighted Solana’s technical advantages in the staking ETF landscape. He pointed to Solana’s validator exit queue as a key factor. Bitwise chief investment officer Matt Hougan further elaborated on Solana’s strengths, citing its speed, throughput, and transaction finality as highly appealing characteristics.
Ethereum Community Takes Issue
These endorsements drew criticism from some Ethereum supporters. They viewed Bitwise’s strong backing of Solana as a departure from the “cypherpunk values” often associated with Ethereum, which they felt Bitwise had previously championed.
Bitwise’s Historical Connection to Ethereum
Horsley expressed his regret over the negative reception. He acknowledged that Ethereum played a significant role in inspiring the creation of Bitwise in 2016. In a public statement, Horsley conveyed that he felt “terrible” about the critical posts and affirmed Bitwise’s continued regard for Ethereum. He indicated that the feedback regarding comments perceived as conflicting with Ethereum community values was being seriously considered.
Leave a Reply