US Commerce Secretary Howard Lutnick’s firm, Cantor Fitzgerald, introduced its first funding in Solana (SOL).
Accordingly, Cantor Fitzgerald, one in every of Wall Avenue’s main banks, introduced in its newest Type 13F submitting with the U.S. Securities and Alternate Fee (SEC) that it has added the Solana ETF to its portfolio.
In accordance with this doc, the acquisition was made in mid-November.
This marks the corporate’s first publicity to a regulated Solana product.
The corporate, which bought roughly 58,000 Volatility Shares Solana ETF (SOLZ) shares, paid $1.28 million for this SOL funding on the time.
Cantor Fitzgerald said in a June report that they favored Solana over Ethereum as an organization. At that time, Cantor analysts said that they favored Solana extra as a treasury asset than Ethereum.
He cited the developer progress at Solana as far exceeding that of ETH as the explanation for selecting Solana. He said that at this level, utilizing SOL as a treasury asset as a substitute of ETH would make extra sense.
*This isn’t funding recommendation.
