Solana Edges Out Ethereum in ETF Race: Bitwise CEO Hunter Horsley’s Journey from Facebook to Crypto Innovation

By: crypto insight|2025/11/03 15:00:08

Key Takeaways

Bitwise CEO Hunter Horsley highlights Solana’s advantages over Ethereum in staking ETFs, such as shorter validator exit queues, sparking debates among crypto enthusiasts.
Sovereign wealth funds are showing interest in Bitcoin and Ethereum ETFs, with potential investments expected in the coming months, signaling growing institutional adoption.
Horsley’s experience at Facebook shaped Bitwise’s client-focused approach, emphasizing genuine digital ownership and avoiding overly ambitious mission statements.
Bitwise plans to launch ETFs for projects like XRP, Avalanche, Chainlink, Hyperliquid, Aptos, and Near, embracing competition to drive innovation in the crypto space.
As a crypto specialist, Bitwise donates 10% of profits to blockchain development, setting it apart from traditional finance giants and appealing to crypto natives.

Imagine stepping away from one of the world’s most explosive tech giants to chase a wild idea in a fledgling industry like crypto. That’s exactly what Hunter Horsley did, leaving his role at Facebook to co-found Bitwise, a firm that’s now making waves in the ETF world. Fast-forward to today, and Bitwise is at the center of heated discussions about Solana versus Ethereum ETFs, with Horsley drawing from his past to build a future-focused crypto powerhouse. It’s a story of competition, innovation, and lessons learned from social media’s highs and lows—perfect for anyone curious about how crypto is reshaping finance.

Let’s dive into how Bitwise’s recent moves, like the launch of its Solana Staking ETF, are stirring the pot in the crypto community. Horsley didn’t just stumble into this; his path from product management at Facebook to leading a crypto asset manager shows how real-world experiences can fuel groundbreaking ideas. And with platforms like WEEX offering seamless trading for assets like Solana, it’s easier than ever for everyday investors to join the action, benefiting from WEEX’s user-friendly interface and strong security features that align perfectly with the ethos of reliable crypto innovation.

From Facebook Lessons to Bitwise’s Crypto Vision

Hunter Horsley’s journey starts in the heart of Silicon Valley, where he grew up in Menlo Park and later studied at the Wharton School. His early career took him to an education startup before landing at Facebook in 2014, right when the platform was booming. There, he worked on features like Groups and video ads for both Facebook and Instagram. It was an exciting time, but it also revealed some hard truths about tech giants.

Picture this: you’re building communities that mean everything to users—groups for rare hobbies or support networks for health issues. These digital spaces become lifelines, yet they’re fragile. Horsley saw firsthand how admins could kick people out on a whim, with no recourse. No property rights, no appeals process—it was a stark reminder that in traditional tech, users don’t truly own their digital lives. This frustration planted the seeds for his interest in blockchain, where public ledgers and consensus mechanisms create fairer systems. It’s like comparing a rented apartment to owning your home; in crypto, you get real stakes and rules everyone agrees on.

But Facebook taught him more than just the value of ownership. The company’s mission to “make the world more open and connected” often clashed with user needs. Take photo privacy: setting uploads to public by default might boost connections, but it ignored what people really wanted—control. Horsley took this as a cautionary tale. At Bitwise, he ditched lofty missions altogether, focusing instead on making clients love the service and delivering real value. No grand proclamations, just practical results. This approach has helped Bitwise stand out, much like how WEEX prioritizes user satisfaction with intuitive tools for trading crypto assets, ensuring alignment with what traders actually need in a fast-paced market.

By November 2016, Horsley was ready for a change. He and his college friend Hong Kim quit their jobs after investors offered to back whatever venture they dreamed up. They set up shop in a quirky San Francisco apartment above a tie-dye store, flanked by tattoo parlors. It was there, amid the city’s buzzing Ethereum scene, that crypto clicked. The anti-establishment vibe of decentralized tech resonated deeply—offering a better way for the world to work, free from centralized control. Think of it as upgrading from a clunky old car to a sleek electric vehicle; Ethereum’s trustless system inspired them to launch Bitwise’s first crypto index fund in 2017.

Investors like former Twitter execs and startup gurus saw potential in these young founders, even without deep finance or crypto experience. As one early backer noted, seasoned Wall Street types might not have the fresh perspective needed. Bitwise started small but grew fast, evolving from a private fund to public offerings with $1.5 billion in assets under management today. Now with 120 staff and 30 products, including European ETPs and U.S. crypto ETFs, Bitwise also handles staking billions in crypto and runs validators. It’s a full-spectrum operation, proving that starting from scratch can lead to big wins.

Solana’s ETF Edge Over Ethereum: Speed, Stakes, and Controversy

Fast-forward to the recent buzz: Bitwise’s Solana Staking ETF listed on the New York Stock Exchange, pulling in nearly $56 million in volume on day one—the strongest ETF debut of the year. Inflows hit $69.5 million, a rare case where creations outpaced trading, likely due to hefty institutional buys early on. Horsley attributes Solana’s appeal to its shorter validator exit queue, giving it a leg up in the staking race against Ethereum.

Bitwise’s chief investment officer, Matt Hougan, doubled down, calling Solana’s speed, throughput, and finality “extraordinarily attractive.” He even dubbed it “the new Wall Street.” But this praise didn’t sit well with Ethereum loyalists, who felt it undermined ETH’s cypherpunk roots. Horsley, surprised by the backlash, responded on social media, expressing regret and reaffirming Bitwise’s love for Ethereum. After all, ETH’s rise in 2016 inspired Bitwise’s creation.

Does this mean Bitwise strays from those core values? Horsley insists they support any project with a solid team and vision, even competitors. He laughs off the tribalism, comparing it to wishing the iPhone had no rivals—monopolies stifle progress, while competition sparks better tech. It’s a refreshing take in a space often divided by loyalties.

Looking ahead, Bitwise is capitalizing on new SEC rules to file for ETFs on XRP, Avalanche, Chainlink, Hyperliquid, Aptos, and Near. This expansion shows their belief in a multi-chain future, where variety benefits everyone. For traders eyeing these assets, platforms like WEEX provide a secure gateway, with features that enhance liquidity and align with the growing demand for diverse crypto investments, boosting overall market credibility.

Institutional Interest and the Road to Mainstream Adoption

Meeting Horsley in Singapore after his 45th flight of the year, it’s clear Bitwise is playing the long game. Sovereign wealth funds are knocking—more than one, he confirms—with investments possibly arriving in three to six months. These giants need time for consensus and approvals, but their interest is a huge vote of confidence.

Bitwise’s edge? They’re crypto natives in a TradFi-dominated ETF space. While BlackRock leads in Bitcoin and Ether ETFs, Bitwise sits comfortably in fourth place, ahead of giants like Invesco and VanEck. Their 10% profit donation to blockchain development resonates with purists, setting them apart. It’s like choosing a local craft brewery over a mega-corp; you get authenticity.

Hougan’s hiring in 2018 was a game-changer. Horsley initially pitched him as an investor, but Hougan’s enthusiasm led to a leadership role. Though crypto ETFs were discussed, the real draw was the parallels between ETFs and crypto—both once-dismissed innovations now thriving. ETFs emerged in the 1990s as financial tech rebels, much like crypto today, which explains why ETF pros embrace it.

Brand Alignment in Crypto: Lessons from Horsley’s Path

One underrated aspect of Bitwise’s success is its focus on brand alignment—ensuring every move syncs with core values and user expectations. Horsley learned this the hard way at Facebook, where mission creep led to user distrust. In crypto, this means backing projects that prioritize decentralization and community, not just hype. For instance, Bitwise’s support for diverse blockchains like Solana and Ethereum reflects a commitment to innovation without favoritism, aligning with the industry’s collaborative spirit.

This approach builds trust, much like how WEEX aligns its brand with reliability and innovation by offering tools for staking and ETF-related trades. By integrating seamlessly with emerging trends, WEEX enhances its credibility, making it a go-to for investors navigating the Solana-Ethereum divide. Such alignment isn’t just smart business; it fosters long-term loyalty in a volatile market.

Hot Topics and Latest Updates in the Crypto Conversation

Based on trending searches, people are often asking about “Solana vs Ethereum ETF performance” or “best staking ETFs for 2025.” On Twitter (now X), discussions rage around ETF inflows and blockchain rivalries, with posts debating Solana’s speed as a game-changer.

As of November 3, 2025, recent updates include a Twitter thread from Bitwise’s official account announcing expanded staking options for Solana, garnering over 10,000 likes and sparking talks about potential ETF approvals for more altcoins. An official SEC announcement last week hinted at streamlined reviews for crypto products, fueling optimism. Meanwhile, Ethereum influencers are pushing back with posts emphasizing ETH’s security, keeping the debate alive and driving searches for “Ethereum ETF updates 2025.”

These conversations highlight crypto’s maturing landscape, where competition like Solana’s pushes Ethereum to innovate, benefiting the entire ecosystem.

Bringing It All Together: Competition Drives Crypto Forward

Horsley’s story—from Facebook’s pitfalls to Bitwise’s triumphs—illustrates how personal experiences shape industry leaders. By embracing rivalry between Solana and Ethereum ETFs, Bitwise isn’t picking sides; it’s fueling progress. As sovereign funds eye crypto and new ETFs loom, the space feels more vibrant than ever.

Think of crypto as a bustling marketplace: more vendors mean better deals for everyone. Horsley’s anti-monopoly stance echoes this, reminding us that innovation thrives on challenge. Whether you’re staking Solana or holding Ethereum, the real win is a stronger, more inclusive financial future.

FAQ

What Gives Solana an Edge Over Ethereum in Staking ETFs?

Solana’s shorter validator exit queue makes it more efficient for staking, as highlighted by Bitwise, leading to faster processing compared to Ethereum’s setup.

How Did Hunter Horsley’s Time at Facebook Influence Bitwise?

It taught him to prioritize user needs over grand missions and emphasized the importance of true digital ownership, shaping Bitwise’s client-focused strategy.