Cantor Fitzgerald's First Solana Investment

Howard Lutnick's company, Cantor Fitzgerald, a prominent Wall Street firm, has announced its inaugural investment in Solana (SOL). This significant move was disclosed in the company's latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC), revealing the addition of a Solana ETF to its investment portfolio.

The filing indicates that the purchase of Solana ETF shares was executed in mid-November, marking Cantor Fitzgerald's initial foray into a regulated Solana product. The company acquired approximately 58,000 Volatility Shares Solana ETF (SOLZ) shares, representing an investment of $1.28 million at the time of purchase.

Preference for Solana Over Ethereum

Cantor Fitzgerald had previously expressed a preference for Solana over Ethereum in a report released in June. Analysts at the firm stated their inclination towards Solana as a treasury asset compared to Ethereum.

The primary reason cited for this preference was the substantial developer growth observed on the Solana network, which was noted as far exceeding that of Ethereum. This growth led Cantor Fitzgerald to conclude that utilizing SOL as a treasury asset would be more advantageous than ETH at that juncture.