The post Solana ETF Filings are in Full Swing: SOL vs SOL ETF and More  appeared on BitcoinEthereumNews.com.

The Cboe has formally requested the SEC to approve the launch of a Solana-based exchange-traded fund (ETF) by asset managers VanEck and 21Shares. On Monday, the exchange submitted two 19b-4 filings to the SEC, seeking permission to list these Solana-backed products. Once the SEC acknowledges the filing, it has 240 days to make a decision on the ETFs.  Rob Marocco of Cboe Global Markets commented that following the successful listing of the first U.S. spot Bitcoin ETFs on the platform and obtaining SEC approval for rule filings to list spot Ether ETFs, they are now addressing the growing investor interest in Solana, which is one of the most actively traded cryptocurrencies after Bitcoin and Ether.  Cboe currently lists six out of the ten existing spot Bitcoin ETFs, including those from Fidelity, Ark/21Shares, and VanEck. It will also be the listing platform for five spot Ether ETFs if they receive approval.  Industry experts anticipate the SEC will approve Solana ETFs soon, with several issuers submitting updated S-1 forms on Friday and earlier Monday. There may still be further amendments as the latest filings do not include fee information.  In June, both VanEck and 21Shares filed an S-1 form, a necessary step for offering a new security on the market. The 19b-4 filing, submitted to notify the SEC of a proposed rule change by a self-regulatory organization.  What does it mean for SOL price? Whilst SOL price currently hovers above $138 SOL/USDT on Gate.io, the prospect for the token being added to the ETF bandwagon is nothing short of positive. If approved, this would mean that TradFi institutional money gain access to the Solana’s native SOL token and can acquire and trade it. This might propel SOL to a new ATH, beyond its previously achieved record of $258 that it reached back…

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Filed under: News - @ August 9, 2024 7:14 am