The post VanEck and 21Shares Pursue Solana ETFs as SEC Decision Could Shape Market Landscape by 2025 appeared on BitcoinEthereumNews.com.

Major firms VanEck and 21Shares push for Solana-focused ETFs, signaling progress in crypto ETF integration. The filings represent a critical step; SEC approval, possibly by August 2025, could drive broader adoption. Solana’s token price surged nearly 10% amid ETF anticipation, highlighting rising institutional interest. VanEck and 21Shares are intensifying efforts to introduce Solana-focused ETFs in the US, highlighting a notable shift in institutional interest. Solana ETF Momentum Grows Despite Challenges VanEck and 21Shares, prominent asset management firms, have joined Bitwise and Canary Capital in filing for Solana ETFs on the Cboe BZX Exchange. Bloomberg ETF analyst James Seyffart confirmed the development in an early Friday post. “In total CBOE just filed for 4 Solana ETFs. One for VanEck, 21Shares, Canary Capital, and Bitwise. The ball is in SEC’s court now,” Seyffart noted. This development marks a significant evolution in cryptocurrency investment offerings, with the proposed ETFs classified as “commodity-based trust shares” under Rule 14.11 (e)(4). The filings now await the SEC’s formal acceptance. Cboe’s move to list four Solana ETFs highlights its commitment to expanding cryptocurrency product offerings. The proposal aligns with the exchange’s efforts to integrate digital assets into traditional markets. With VanEck, 21Shares, Bitwise, and Canary Capital at the forefront, the introduction of Solana ETFs could enhance the blockchain’s visibility and adoption. If successful, these filings could bolster Solana’s standing in the crypto ecosystem, potentially driving liquidity and influencing broader market trends. According to COINOTAG data, Solana’s powering token is up by almost 10% amid ETF optimism. As of this writing, SOL was trading for $259.20. VanEck and 21Shares had previously filed applications for Solana ETFs with the SEC in June 2024, one after the other. These initial filings laid the groundwork for their recent Cboe applications, signaling a progression toward regulatory approval. Filing with the Cboe BZX…

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Filed under: News - @ November 22, 2024 8:20 am