Canary Capital has applied for a Solana-based exchange-traded fund as the companies prepare to see if they can secure U.S. regulatory approval.
The cryptocurrency investment company filed an S-1 registration statement for the Canary Solana ETF on Wednesday. I see the fund “Provides exposure to the price of Solana (‘SOL’) held by the Trust.” filing. A caretaker and manager were not appointed.
“Solana’s robust DeFi ecosystem has driven robust, continuous on-chain analytics as measured by daily transactions, active addresses, and new addresses while maintaining a low-fee environment for all consumers,” the company said.
Steven McClurg founded Canary Capital and previously founded Valkyrie Funds, which holds other spot cryptocurrency ETFs. Canary Capital also filed an in-kind registration statement. Litecoin ETF and XRP ETF.
Fund manager VanEck likewise contaminated For the spot Solana ETF in June. Matthew Sigel, head of digital asset research at VanEck, argued: mail At the time, SOL was a commodity at X because it “functioned similarly” to Bitcoin and Ether. SEC is SOL security Last year, when they sued cryptocurrency exchange Binance.
SEC approval 11 Spot Bitcoin ETFs were released earlier this year and shortly after. green light About 8 Ethereum ETFs.
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Sarah is a reporter for The Block covering policy, regulation and legal events. Previously, Sarah was a reporter covering securities regulation at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and is an avid coffee lover. You can follow her on Twitter @ForTheWynn.