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7h ago

Bitwise CIO Touts Solana as Wall Street’s Next Settlement Rail

Hougan’s pitch centers on faster finality as Solana remains a minor stablecoin venue.

‘solana is the new wall street,’ bitwise cio matt hougan explains
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Overview

  • Matt Hougan labeled Solana “the new Wall Street” in an Oct. 2 conversation with Solana Labs’ Akshay Rajan, citing speed, throughput and near-instant finality.
  • He pointed to a reported improvement in Solana’s settlement latency from roughly 400 microseconds to about 150 microseconds as a key draw for institutional workflows.
  • On-chain data show Solana with about 4.5–4.7% of stablecoins (~$13.9B) versus Ethereum’s ~59% (~$172.5B, ~65% including major L2s), while EVM builders argue issuer tooling still favors Ethereum.
  • CoinDesk Research’s model logged SOL trading in a $228.19–$237.04 range before a break below the $228–$229 support with a one-minute volume spike, signaling near-term selling pressure.
  • Bitwise already offers a Physical Solana ETP with roughly $30 million AUM, and the SEC is slated to rule on the firm’s spot Solana ETF application on Oct. 16.