Particle.news
Download on the App Store
6 ARTICLES
·
3d ago

Bitwise CIO Touts Solana for Wall Street Stablecoins as SEC ETF Decision Nears

Ethereum still holds most on-chain stablecoin value, underscoring the gap Solana must close.

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

Overview

  • Matt Hougan labeled Solana “the new Wall Street,” arguing its speed, throughput, and near-instant finality make it attractive for stablecoins and tokenized assets.
  • Hougan cited a settlement latency improvement on Solana from roughly 400 microseconds to about 150 microseconds as a practical edge for institutional trading.
  • On-chain data show Solana hosts about $13.9 billion in stablecoins, roughly 4.7% of the market, compared with Ethereum’s ~59% on mainnet and ~65% including major layer-2s.
  • Bitwise runs a Physical Solana ETP with about $30 million in assets and awaits an SEC decision on its spot Solana ETF application on October 16.
  • CoinDesk Research reported SOL slipped below the $228–$229 support on rising volume, and a Monday update put the price near $227, down 2% on the day.