SEC Recognizes Grayscale’s Solana and Litecoin ETF Filings
The post SEC Recognizes Grayscale’s Solana and Litecoin ETF Filings appeared on BitcoinEthereumNews.com.
The US Securities and Exchange Commission (SEC) has officially recognized the 19b-4 filings submitted by the New York Stock Exchange (NYSE) to list and trade the Grayscale Solana and Litecoin exchange-traded fund (ETF). On February 6, the regulatory body called for public feedback on both filings. Comments must be submitted within 21 days following their publication in the Federal Register. First SEC Acknowledgment for Solana ETFs The SEC’s acknowledgment marks a first for Solana (SOL) ETFs, making it a significant development. “This is actually newsworthy because the SEC had refused to do this in recent filing attempts for SOL,” Bloomberg ETF analyst James Seyffart wrote on X. He further suggested that this decision could indicate a positive shift for exchanges or firms facing SEC lawsuits that label Solana as a security. Fox Business journalist Eleanor Terrett echoed this sentiment, calling the move “very noteworthy.” “The same SEC asked the CBOE to withdraw issuers’ Solana filings just a few weeks ago when Gensler was still at the helm,” Terrett explained. Bloomberg’s senior ETF analyst Eric Balchunas also agreed. He emphasized the significance of the SEC’s recognition of a product tied to a digital asset previously labeled a “security.” “So we are now in new territory, albeit just a baby step, but seemingly the direct result of leadership change,” Balchunas remarked. The SEC’s move comes after the Chicago Board Options Exchange (Cboe) refiled 19b-4 applications for Solana ETFs on behalf of Bitwise, VanEck, 21Shares, and Canary Capital. Meanwhile, Gary Gensler’s departure has triggered a surge in ETF filings. This is because many anticipate a more favorable stance toward crypto-related products. Seyffart estimated that the final deadline for a decision on the Solana ETF application would likely be around October 11. Grayscale Litecoin ETF Gets Initial Nod In addition to the Solana ETF,…
Filed under: News - @ February 7, 2025 6:26 am