The application for the first Solana (SOL) exchange-traded fund (ETF) on the Chicago Board Options Exchange (CBOE) has been filed with the U.S. Securities and Exchange Commission (SEC).
According to new filings with Cboe, VanEck and 21Shares both applied for Solana futures ETFs yesterday.
VanEck executive Matthew Siegel also confirmed the social media platform X’s application for a Solana ETF.
“VanEck is excited to announce that CBOE has filed a 19b-4 to list and trade shares of the first Solana exchange-traded fund (ETF) in the United States!
We look forward to working with the SEC throughout the review period.”
The SEC’s deadline for a response to the Solana ETF is next spring, according to Bloomberg ETF analyst Eric Balchunas.
“The Solana ETF will likely have a final closing date in mid-March 2025. But the most important date between now and then is November. If Biden wins, it will most likely be DOA. If Trump wins, anything is possible.”
VanEck’s Siegel has previously said the firm’s Solana ETF filing is part of a bet that Donald Trump will win the 2024 election, enact crypto-friendly regulations and place crypto-friendly executives in his administration.
Bloomberg’s Balchunas said he thinks the filing is a “call option for the POTUS election.”
“The knee-jerk reaction here is, ‘Oh, this will never get approved, because there’s no Solana gift.’ I agree, but if there’s a change in POTUS, I think anything is possible. Imagine if (SEC Commissioner) Hester Pierce (or someone like that) ran the SEC.”
At the time of writing, SOL is trading at $142, up 5% over the last 24 hours.
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