Solana ETFs on the horizon? CBOE seeks approval as SOL breaks ATH
The post Solana ETFs on the horizon? CBOE seeks approval as SOL breaks ATH appeared on BitcoinEthereumNews.com.
Solana ETF process moves forward with four 19b-4 filings. SOL has hit a new ATH since November 2021. CBOE has submitted four 19b-4 filings with the U.S. Securities and Exchange Commission (SEC) to list spot Solana [SOL] ETFs. The filings were made on behalf of asset managers Bitwise, VanEck, 21Shares, and Canary Capital. If approved, these ETFs would be listed on the Chicago Board Options Exchange BZX Exchange in the U.S. Highlighting the filings, Bloomberg ETF analyst James Seyffart said on X (formerly Twitter): “The ball is in SEC’s court now.” Source: James Seyffart/X He further mentioned that the final deadline for this will likely fall in early August, assuming the SEC acknowledges it. For context, a 19b-4 filing is a request submitted by self-regulatory organizations, to amend or create rules. The SEC evaluates these filings, inviting public comment before determining approval or rejection. Bitwise joins the Solana ETF race It is worth noting that Bitwise is the latest contender in the SOL ETF race, following earlier filings by VanEck and 21Shares in late June and Canary Capital in October. On the 20th of November, Bitwise registered a statutory trust in Delaware for a spot Solana ETF. The crypto-focused asset manager solidified its move by submitting its S-1 filing the following day. Solana ETFs: A wait-and-see game? While the flurry of filings indicates enthusiasm among asset managers, they do not guarantee SEC approval. Eric Balchunas, senior ETF analyst at Bloomberg, questioned whether the SEC will acknowledge these filings in two weeks or instruct the applicants to withdraw them. Balchunas believes that CBOE is testing the boundaries about a possible procedural acknowledgment. He added that this was because of the impending leadership changes at the SEC. However, the analyst stated that before approval, “Lawsuits that mention Solana as a security would…
Filed under: News - @ November 22, 2024 8:14 pm