Exchange Cboe BZX has filed a form with VanEck and 21Shares for a Solana exchange-traded fund (ETF), as both firms look to launch the first of their kind.
Cboe BZX filed Form 19b-4s on Monday. 21Shares Core Solana ETF and VanEck Solana Trust. This form is a request submitted to the U.S. Securities and Exchange Commission to notify the agency of a proposed rule change. This form is part of the process of obtaining agency approval for a crypto ETF.
The exchange compared the product to the spot price. Ethereum ETF and Bitcoin ETFThe agency approved it last year.
“The exchange believes that SOL, like Bitcoin and ETH, is resistant to price manipulation, and that there are ‘other means to prevent fraudulent and manipulative acts and practices’ that would justify waiving the mandatory surveillance sharing agreement,” the exchange said in two filings.
Van Eck We filed a registration statement for the Solana ETF at the end of June. 21 Shares We have just filed for our own Solana ETF. The product is successful This may be because the SEC initially said that SOLs were securities.
Nate Geraci said the next step includes the SEC accepting the 19b-4 filing. President of ETF Store, post About X.
“Once the SEC accepts these filings, decisions will begin to be made,” Geraci said.
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About the Author
Sarah is a reporter covering policy, regulation, and legal issues for The Block. Previously, Sarah was a securities regulation reporter at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for other financial publications, including The Bond Buyer and American Banker. She graduated from the University of Missouri with a degree in print and digital journalism. Sarah lives in Washington, D.C., and is an avid coffee drinker. You can follow her on Twitter @ForTheWynn.